TB Alternative Assets Ltd. Invests $4.24 Million in AppLovin Corporation $APP

TB Alternative Assets Ltd. acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,900 shares of the company’s stock, valued at approximately $4,239,000. AppLovin makes up about 0.6% of TB Alternative Assets Ltd.’s holdings, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC boosted its holdings in AppLovin by 31.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,760 shares of the company’s stock valued at $3,420,000 after acquiring an additional 1,142 shares during the period. Castle Rock Wealth Management LLC acquired a new stake in shares of AppLovin during the third quarter worth about $2,980,000. Willner & Heller LLC lifted its position in shares of AppLovin by 95.4% during the third quarter. Willner & Heller LLC now owns 1,184 shares of the company’s stock worth $851,000 after purchasing an additional 578 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of AppLovin by 3.5% in the third quarter. Blue Trust Inc. now owns 5,314 shares of the company’s stock valued at $3,818,000 after purchasing an additional 182 shares during the period. Finally, Yeomans Consulting Group Inc. grew its holdings in shares of AppLovin by 50.6% in the third quarter. Yeomans Consulting Group Inc. now owns 1,399 shares of the company’s stock valued at $985,000 after purchasing an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 4,069 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $497.50, for a total transaction of $2,024,327.50. Following the sale, the chief executive officer owned 2,998,948 shares of the company’s stock, valued at approximately $1,491,976,630. This trade represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the sale, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This represents a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 340,336 shares of company stock worth $200,062,623 in the last three months. 13.66% of the stock is owned by company insiders.

AppLovin Stock Performance

Shares of APP stock opened at $714.23 on Friday. The company has a market cap of $241.37 billion, a P/E ratio of 86.68, a PEG ratio of 3.83 and a beta of 2.51. The firm has a fifty day moving average price of $629.93 and a 200 day moving average price of $523.30. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.AppLovin’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. Sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APP. Piper Sandler increased their target price on shares of AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppLovin in a research report on Monday, December 22nd. Wedbush increased their price objective on AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company lifted their target price on AppLovin from $633.00 to $721.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Nineteen 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $695.90.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.