Opinicus Capital Inc. Invests $441,000 in AppLovin Co. (NASDAQ:APP)

Opinicus Capital Inc. bought a new stake in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,363 shares of the company’s stock, valued at approximately $441,000.

Other hedge funds have also recently made changes to their positions in the company. WCM Investment Management LLC increased its stake in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. FMR LLC boosted its stake in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the period. State Street Corp increased its position in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after acquiring an additional 449,241 shares during the period. Finally, Fred Alger Management LLC lifted its holdings in shares of AppLovin by 1.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock worth $462,077,000 after acquiring an additional 46,854 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APP shares. Benchmark began coverage on shares of AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective for the company. Wedbush restated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Jefferies Financial Group increased their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Loop Capital boosted their target price on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

AppLovin Stock Performance

Shares of APP stock opened at $375.72 on Friday. The company has a market capitalization of $126.09 billion, a P/E ratio of 113.85, a P/E/G ratio of 3.00 and a beta of 2.30. AppLovin Co. has a 12-month low of $45.12 and a 12-month high of $417.64. The business’s 50 day moving average is $346.12 and its two-hundred day moving average is $217.34. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. Analysts expect that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by corporate insiders.

AppLovin Company 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.