Bridgewater Associates LP Grows Stock Position in AppLovin Co. (NASDAQ:APP)

Bridgewater Associates LP raised its position in AppLovin Co. (NASDAQ:APP) by 337.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,590 shares of the company’s stock after buying an additional 204,943 shares during the quarter. Bridgewater Associates LP owned about 0.08% of AppLovin worth $34,673,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. boosted its position in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the period. HM Payson & Co. lifted its holdings in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after purchasing an additional 104 shares during the period. Ashton Thomas Securities LLC grew its holdings in AppLovin by 2.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other news, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now owns 213,336 shares in the company, valued at approximately $70,970,487.12. The trade was a 9.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 854,065 shares of company stock valued at $233,072,408 over the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Up 3.2 %

APP opened at $329.77 on Wednesday. The firm has a market capitalization of $110.67 billion, a price-to-earnings ratio of 99.93, a PEG ratio of 3.94 and a beta of 1.86. AppLovin Co. has a one year low of $35.79 and a one year high of $344.77. The business has a 50 day simple moving average of $185.37 and a two-hundred day simple moving average of $119.37. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its quarterly 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 during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The firm’s revenue was up 38.6% on a year-over-year basis. Analysts predict that AppLovin Co. will post 4.05 EPS for the current year.

Analyst Ratings Changes

APP has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price target on shares of AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday. BTIG Research lifted their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Loop Capital increased their price target on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company boosted their price objective on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

About AppLovin

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.