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

Quantbot Technologies LP lessened its stake in AppLovin Co. (NASDAQ:APP) by 87.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,582 shares of the company’s stock after selling 31,944 shares during the quarter. Quantbot Technologies LP’s holdings in AppLovin were worth $598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APP. Capital Performance Advisors LLP acquired a new position in AppLovin in the third quarter valued at $25,000. DT Investment Partners LLC purchased a new position in AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $340.59 on Tuesday. The firm has a market capitalization of $114.30 billion, a price-to-earnings ratio of 103.50, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $347.60. The company has a 50 day simple moving average of $201.91 and a 200-day simple moving average of $126.29.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.30 earnings per share. The firm’s revenue was up 38.6% compared to the same quarter last year. Equities research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on APP. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Jefferies Financial Group raised their target price on AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, BTIG Research lifted their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 5,500 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the completion of the transaction, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 884,395 shares of company stock worth $243,101,629 in the last ninety days. Insiders own 14.69% of the company’s stock.

AppLovin 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.