Quantbot Technologies LP Makes New $2.86 Million Investment in AppLovin Corporation $APP

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

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

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 4,069 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 2,998,948 shares in the company, valued at $1,491,976,630. This trade represents a 0.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 332,577 shares of company stock worth $194,958,522. 13.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. Scotiabank upped their price target on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Piper Sandler raised their price target on shares of AppLovin from $740.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Benchmark boosted their price objective on shares of AppLovin from $640.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Twenty investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $668.90.

AppLovin Stock Up 3.3%

APP opened at $683.78 on Friday. The stock 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 firm has a 50 day moving average price of $608.45 and a 200-day moving average price of $486.70. AppLovin Corporation has a twelve month low of $200.50 and a twelve month 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 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 company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter last year, the company posted $1.29 earnings per share. Equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.