AppLovin Corporation $APP Stock Holdings Increased by Syquant Capital Sas

Syquant Capital Sas lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 3.6% during the second quarter, Holdings Channel reports. The fund owned 7,180 shares of the company’s stock after acquiring an additional 251 shares during the period. AppLovin comprises 0.8% of Syquant Capital Sas’ investment portfolio, making the stock its 10th largest position. Syquant Capital Sas’ holdings in AppLovin were worth $2,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of APP. Atala Financial Inc purchased a new stake in shares of AppLovin during the first quarter worth $26,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin during the first quarter worth $27,000. ORG Wealth Partners LLC purchased a new stake in shares of AppLovin during the first quarter worth $29,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of AppLovin during the first quarter worth $29,000. Finally, SouthState Corp purchased a new stake in shares of AppLovin during the first quarter worth $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Scotiabank reiterated an “outperform” rating on shares of AppLovin in a research note on Thursday, August 28th. Jefferies Financial Group boosted their target price on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Benchmark boosted their target price on shares of AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $501.95.

Insider Activity

In related news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the transaction, the director directly owned 181,929 shares of the company’s stock, valued at $78,682,473.21. This represents a 52.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock valued at $514,863,333 over the last ninety days. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of APP opened at $643.50 on Tuesday. AppLovin Corporation has a fifty-two week low of $124.59 and a fifty-two week high of $657.00. The company has a market capitalization of $217.66 billion, a price-to-earnings ratio of 91.41, a price-to-earnings-growth ratio of 3.60 and a beta of 2.44. The firm has a 50-day simple moving average of $457.27 and a 200-day simple moving average of $367.01. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. On average, equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.