Marshall Wace LLP Makes New Investment in AppLovin Corporation $APP

Marshall Wace LLP acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 140,538 shares of the company’s stock, valued at approximately $49,200,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hilltop National Bank acquired a new position in AppLovin in the second quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA purchased a new position in shares of AppLovin during the 2nd quarter valued at approximately $26,000. SouthState Corp acquired a new position in shares of AppLovin in the 1st quarter valued at $29,000. Twin Peaks Wealth Advisors LLC purchased a new stake in AppLovin during the second quarter worth $33,000. Finally, Hoey Investments Inc. purchased a new stake in AppLovin during the second quarter worth $35,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of AppLovin stock opened at $691.94 on Friday. The stock has a market capitalization of $233.84 billion, a P/E ratio of 83.97, a PEG ratio of 3.71 and a beta of 2.51. The business has a 50 day simple moving average of $608.89 and a two-hundred day simple moving average of $489.81. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25.

AppLovin (NASDAQ:APP) last issued 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. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The business’s revenue was up 68.2% on a year-over-year basis. As a group, analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Oppenheimer set a $740.00 price target on AppLovin in a research note on Tuesday, October 7th. BTIG Research upped their price target on AppLovin from $693.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Piper Sandler raised their price objective on AppLovin from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $679.85.

Insider Activity

In other news, CFO Matthew Stumpf sold 4,884 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $515.76, for a total value of $2,518,971.84. Following the transaction, the chief financial officer directly owned 191,161 shares of the company’s stock, valued at approximately $98,593,197.36. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 4,069 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $497.50, for a total transaction of $2,024,327.50. Following the transaction, the chief executive officer owned 2,998,948 shares in the company, valued at $1,491,976,630. The trade was a 0.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 332,577 shares of company stock worth $194,958,522 over the last three months. Insiders own 13.66% of the company’s stock.

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.