Quantbot Technologies LP Takes Position in AppLovin Corporation $APP

Quantbot Technologies LP bought a new stake in shares of AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,181 shares of the company’s stock, valued at approximately $2,864,000.

A number of other institutional investors have also recently made changes to their positions in APP. Hilltop National Bank bought a new position in shares of AppLovin during the 2nd quarter valued at about $26,000. LFA Lugano Financial Advisors SA purchased a new stake in AppLovin in the second quarter worth approximately $26,000. Hoey Investments Inc. bought a new position in AppLovin during the second quarter valued at approximately $35,000. Trust Co. of Vermont purchased a new position in shares of AppLovin during the second quarter worth approximately $35,000. Finally, ORG Partners LLC lifted its holdings in shares of AppLovin by 146.5% in the 2nd quarter. ORG Partners LLC now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $683.78 on Friday. The firm has a market capitalization of $231.09 billion, a price-to-earnings ratio of 82.98, a PEG ratio of 3.55 and a beta of 2.51. The stock has a fifty day moving average of $608.45 and a 200 day moving average of $486.70. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. As a group, research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. Oppenheimer set a $740.00 price objective on AppLovin in a research note on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of AppLovin in a report on Monday. Citigroup reduced their price target on AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Scotiabank boosted their price objective on AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Twenty equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $668.90.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the transaction, the director owned 7,133,292 shares in the company, valued at approximately $4,643,131,095.72. This represents a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the transaction, the chief technology officer directly 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. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 332,577 shares of company stock valued at $194,958,522 over the last three months. Corporate insiders own 13.66% of the company’s stock.

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.