Quantbot Technologies LP Has $2.70 Million Holdings in AppLovin Corporation $APP

Quantbot Technologies LP lessened its position in shares of AppLovin Corporation (NASDAQ:APP) by 54.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,751 shares of the company’s stock after selling 4,430 shares during the period. Quantbot Technologies LP’s holdings in AppLovin were worth $2,695,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Ninepoint Partners LP bought a new position in shares of AppLovin in the 3rd quarter worth about $201,000. Integrated Financial Solutions Inc. bought a new stake in shares of AppLovin during the 3rd quarter valued at about $1,464,000. Ibex Wealth Advisors grew its stake in AppLovin by 1.5% during the third quarter. Ibex Wealth Advisors now owns 45,663 shares of the company’s stock worth $32,811,000 after purchasing an additional 658 shares during the period. Generali Investments Management Co LLC acquired a new stake in AppLovin during the third quarter worth approximately $437,000. Finally, TIAA Trust National Association increased its holdings in AppLovin by 431.7% in the third quarter. TIAA Trust National Association now owns 52,749 shares of the company’s stock worth $37,902,000 after purchasing an additional 42,829 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $438.89 on Wednesday. The stock has a 50 day moving average of $527.66 and a 200 day moving average of $572.35. The company has a market capitalization of $148.03 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 0.89 and a beta of 2.51. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s revenue was up 66.0% on a year-over-year basis. As a group, sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on APP. UBS Group set a $740.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, February 12th. The Goldman Sachs Group dropped their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Piper Sandler reissued an “overweight” rating and set a $650.00 price objective (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Finally, Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Monday, February 2nd. Twenty-one analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $658.14.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 150 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the sale, the director owned 2,829 shares in the company, valued at $1,961,402.28. This trade represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares in the company, valued at $182,097,294.30. This trade represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 13.66% of the company’s stock.

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.