Brevan Howard Capital Management LP Purchases Shares of 263,755 AppLovin Corporation $APP

by · The Cerbat Gem

Brevan Howard Capital Management LP acquired a new position in AppLovin Corporation (NASDAQ:APP – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 263,755 shares of the company’s stock, valued at approximately $92,335,000. AppLovin makes up approximately 0.5% of Brevan Howard Capital Management LP’s portfolio, making the stock its 14th largest position. Brevan Howard Capital Management LP owned approximately 0.08% of AppLovin as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. Hilltop National Bank bought a new stake in AppLovin in the second quarter worth approximately $26,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of AppLovin during the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of AppLovin in the 2nd quarter valued at $33,000. Hoey Investments Inc. acquired a new position in shares of AppLovin during the 2nd quarter valued at $35,000. Finally, Trust Co. of Vermont bought a new position in AppLovin during the second quarter worth $35,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 150 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the transaction, the director directly owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 4,884 shares of AppLovin stock in a transaction on Friday, November 21st. The stock was sold at an average price of $515.76, for a total value of $2,518,971.84. Following the sale, the chief financial officer owned 191,161 shares in the company, valued at $98,593,197.36. This trade represents a 2.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 332,727 shares of company stock valued at $195,062,520. 13.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of AppLovin from $633.00 to $721.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Jefferies Financial Group increased their price target on AppLovin from $800.00 to $860.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Wedbush increased their target price on AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, BTIG Research boosted their price target on shares of AppLovin from $693.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $692.60.

View Our Latest Report on AppLovin

AppLovin Trading Down 6.5%

NASDAQ APP opened at $670.67 on Friday. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The business has a fifty day simple moving average of $608.97 and a 200 day simple moving average of $500.90. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The firm has a market capitalization of $226.65 billion, a P/E ratio of 81.39, a PEG ratio of 3.85 and a beta of 2.51.

AppLovin (NASDAQ:APP – Get Free Report) last posted its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.11. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 EPS. On average, analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

AppLovin Company Profile

(Free Report)

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.

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