Quantbot Technologies LP Acquires 24,791 Shares of AppLovin Co. (NASDAQ:APP)

Quantbot Technologies LP increased its holdings in AppLovin Co. (NASDAQ:APP) by 211.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,526 shares of the company’s stock after acquiring an additional 24,791 shares during the quarter. Quantbot Technologies LP’s holdings in AppLovin were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of APP. Precision Wealth Strategies LLC bought a new stake in AppLovin during the 4th quarter valued at about $324,000. Charles Schwab Investment Management Inc. grew its stake in shares of AppLovin by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,695 shares of the company’s stock worth $40,715,000 after acquiring an additional 31,773 shares during the period. QRG Capital Management Inc. bought a new stake in shares of AppLovin in the fourth quarter worth approximately $290,000. Massachusetts Financial Services Co. MA bought a new stake in shares of AppLovin in the fourth quarter worth approximately $3,947,000. Finally, Norges Bank bought a new stake in shares of AppLovin in the fourth quarter worth approximately $43,973,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 3.3 %

AppLovin stock opened at $116.25 on Tuesday. The firm’s 50 day moving average price is $84.70 and its 200-day moving average price is $78.78. AppLovin Co. has a 1 year low of $34.45 and a 1 year high of $116.97. The stock has a market cap of $38.25 billion, a P/E ratio of 69.20, a PEG ratio of 1.41 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

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

Insider Buying and Selling

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were 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 owns 254,458 shares in the company, valued at $20,262,490.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 775,934 shares of company stock worth $65,805,022. Insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. Benchmark raised their price objective 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 reaffirmed an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. BTIG Research lifted their price target on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday. Bank of America lifted their price target on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Wedbush lowered their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.78.

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.