R Squared Ltd Purchases New Position in AppLovin Corporation $APP

R Squared Ltd purchased a new position in AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, HoldingsChannel reports. The firm purchased 2,064 shares of the company’s stock, valued at approximately $723,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APP. Legal Advantage Investments Inc. purchased a new position in shares of AppLovin in the 2nd quarter worth approximately $1,523,000. Park Avenue Securities LLC increased its position in AppLovin by 30.6% during the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock valued at $7,313,000 after acquiring an additional 4,890 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after purchasing an additional 6,104 shares during the period. Aberdeen Group plc raised its holdings in shares of AppLovin by 6.5% in the second quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock worth $39,972,000 after buying an additional 7,001 shares during the period. Finally, Lee Johnson Capital Management LLC lifted its stake in shares of AppLovin by 13.6% during the 2nd quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company’s stock worth $4,358,000 after acquiring an additional 1,491 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 350 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the completion of the transaction, the director directly owned 3,150 shares of the company’s stock, valued at approximately $1,537,105.50. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock worth $514,863,333 in the last quarter. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of APP opened at $589.70 on Friday. AppLovin Corporation has a twelve month low of $158.08 and a twelve month high of $745.61. The company has a 50 day moving average of $565.46 and a two-hundred day moving average of $420.20. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market cap of $199.47 billion, a price-to-earnings ratio of 83.76, a price-to-earnings-growth ratio of 3.07 and a beta of 2.53.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business posted $0.89 earnings per share. The firm’s revenue was up 77.1% compared to the same quarter last year. As a group, analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on APP shares. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Jefferies Financial Group upped their price target on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Wedbush lifted their price objective on shares of AppLovin from $725.00 to $745.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Royal Bank Of Canada assumed coverage on shares of AppLovin in a research report on Monday, October 13th. They issued an “outperform” rating and a $700.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppLovin in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $605.13.

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.