Jump Financial LLC Invests $1.24 Million in AppLovin Co. (NASDAQ:APP)

Jump Financial LLC bought a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,834 shares of the company’s stock, valued at approximately $1,242,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Invst LLC lifted its holdings in AppLovin by 23.2% in the third quarter. Invst LLC now owns 6,812 shares of the company’s stock worth $889,000 after purchasing an additional 1,284 shares during the period. Virtu Financial LLC bought a new position in AppLovin in the 3rd quarter valued at about $3,211,000. SOA Wealth Advisors LLC. acquired a new position in AppLovin during the 3rd quarter valued at about $59,000. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in shares of AppLovin during the 3rd quarter worth about $228,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP opened at $238.22 on Monday. The firm has a market capitalization of $80.98 billion, a P/E ratio of 52.47, a PEG ratio of 3.02 and a beta of 2.39. The stock has a fifty day moving average of $313.27 and a 200-day moving average of $298.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Benchmark raised their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Oppenheimer restated an “outperform” rating and issued a $560.00 price objective on shares of AppLovin in a report on Thursday, March 27th. Morgan Stanley raised AppLovin from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $470.00 to $350.00 in a report on Thursday, April 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $424.84.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 44,400 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by company insiders.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.