Quantinno Capital Management LP grew its position in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 251,891 shares of the company’s stock after purchasing an additional 29,743 shares during the period. Quantinno Capital Management LP owned approximately 0.07% of AppLovin worth $100,253,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC bought a new stake in AppLovin in the 1st quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin during the 4th quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the fourth quarter valued at $32,000. Finally, First Pacific Financial purchased a new position in shares of AppLovin in the first quarter valued at $33,000. 41.85% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
APP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research note on Tuesday, July 7th. Wedbush restated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Raymond James Financial assumed coverage on shares of AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $668.45.
AppLovin Stock Performance
NASDAQ:APP opened at $412.73 on Tuesday. The firm has a market capitalization of $138.65 billion, a PE ratio of 35.46, a PEG ratio of 0.64 and a beta of 2.49. The stock’s fifty day moving average is $497.38 and its 200 day moving average is $477.57. AppLovin Corporation has a fifty-two week low of $358.55 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.
AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. On average, sell-side analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current year.
Insider Buying and Selling
In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 393,000 shares of company stock worth $197,297,363 over the last three months. 12.81% of the stock is currently owned by company insiders.
AppLovin Company Profile
AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.
Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.
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