AppLovin Co. (NASDAQ:APP) Shares Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 133.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,400 shares of the company’s stock after buying an additional 99,713 shares during the period. Polar Asset Management Partners Inc.’s holdings in AppLovin were worth $22,768,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the third quarter worth $27,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin in the third quarter valued at $29,000. Finally, HM Payson & Co. increased its position in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

APP opened at $366.55 on Wednesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $372.57. The company has a 50-day moving average of $206.20 and a 200-day moving average of $128.10. The company has a market capitalization of $123.01 billion, a P/E ratio of 111.08, a PEG ratio of 4.20 and a beta of 2.28.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. Equities analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on APP shares. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised their price objective on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Macquarie raised their price target on AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $265.57.

Insider Transactions at AppLovin

In other AppLovin news, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $339.69, for a total value of $10,360,545.00. Following the sale, the director now directly owns 154,500 shares in the company, valued at approximately $52,482,105. This trade represents a 16.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 5,500 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the transaction, the chief technology officer now owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 914,895 shares of company stock worth $253,462,174. 14.69% of the stock is currently owned by 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.