Quantbot Technologies LP Raises Stake in AppLovin Co. (NASDAQ:APP)

Quantbot Technologies LP grew its stake in shares of AppLovin Co. (NASDAQ:APP) by 211.3% in the second quarter, Holdings Channel reports. The firm owned 36,526 shares of the company’s stock after acquiring an additional 24,791 shares during the period. Quantbot Technologies LP’s holdings in AppLovin were worth $3,040,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of AppLovin during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of AppLovin during the second quarter valued at $37,000. Summit Securities Group LLC purchased a new stake in shares of AppLovin during the second quarter valued at $42,000. Covestor Ltd lifted its stake in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares during the period. Finally, Atlas Capital Advisors LLC bought a new position in AppLovin during the 1st quarter worth about $38,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In related news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the transaction, the insider now directly owns 390,615 shares of the company’s stock, valued at approximately $33,225,711.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The disclosure for this sale can be found here. Insiders sold 775,934 shares of company stock valued at $65,805,022 in the last three months. 14.69% of the stock is owned by insiders.

AppLovin Stock Up 3.3 %

NASDAQ:APP opened at $116.25 on Tuesday. The stock has a market capitalization of $38.25 billion, a P/E ratio of 69.20, a P/E/G ratio of 1.41 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The company’s 50-day simple moving average is $84.70 and its 200-day simple moving average is $78.78. AppLovin Co. has a fifty-two week low of $34.45 and a fifty-two week high of $116.97.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s revenue was up 44.0% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. On average, equities analysts anticipate that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on APP shares. Wedbush dropped their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Benchmark increased their target price on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. BTIG Research increased their target price on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Finally, Bank of America increased their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.78.

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.