Quantbot Technologies LP Sells 2,041 Shares of AppLovin Co. (NASDAQ:APP)

Quantbot Technologies LP cut its position in shares of AppLovin Co. (NASDAQ:APP) by 14.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,735 shares of the company’s stock after selling 2,041 shares during the quarter. Quantbot Technologies LP’s holdings in AppLovin were worth $812,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. bought a new position in shares of AppLovin during the third quarter valued at about $274,000. Vanguard Group Inc. raised its position in shares of AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after purchasing an additional 1,411,453 shares during the period. Exchange Traded Concepts LLC raised its position in shares of AppLovin by 7.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 59,750 shares of the company’s stock valued at $2,381,000 after purchasing an additional 4,320 shares during the period. Raymond James & Associates increased its holdings in AppLovin by 12.3% during the 4th quarter. Raymond James & Associates now owns 1,041,839 shares of the company’s stock worth $41,517,000 after acquiring an additional 113,932 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in AppLovin during the 4th quarter worth approximately $237,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 3.5 %

Shares of AppLovin stock opened at $84.86 on Monday. The firm has a market cap of $27.92 billion, a price-to-earnings ratio of 50.51, a PEG ratio of 1.44 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. AppLovin Co. has a 1 year low of $27.32 and a 1 year high of $91.91. The company has a 50-day moving average of $81.90 and a 200 day moving average of $66.36.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. AppLovin’s revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the transaction, the insider now owns 366,567 shares of the company’s stock, valued at $30,557,025.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other AppLovin news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of AppLovin stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the transaction, the insider now owns 366,567 shares of the company’s stock, valued at $30,557,025.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30. Following the transaction, the insider now directly owns 448,490 shares in the company, valued at approximately $36,493,631.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,857,726 shares of company stock valued at $1,489,251,374. 14.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Oppenheimer reaffirmed an “outperform” rating and set a $97.00 target price on shares of AppLovin in a report on Thursday, June 13th. Wedbush upped their target price on shares of AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Daiwa Capital Markets began coverage on shares of AppLovin in a report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.72.

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.