WINTON GROUP Ltd Buys 13,722 Shares of AppLovin Corporation $APP

WINTON GROUP Ltd increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 208.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,300 shares of the company’s stock after acquiring an additional 13,722 shares during the period. AppLovin comprises about 0.5% of WINTON GROUP Ltd’s portfolio, making the stock its 26th largest position. WINTON GROUP Ltd’s holdings in AppLovin were worth $14,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC raised its stake in shares of AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the period. Versant Capital Management Inc boosted its position in shares of AppLovin by 2.8% during the third quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after buying an additional 19 shares during the period. Claro Advisors LLC grew its holdings in shares of AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after buying an additional 20 shares in the last quarter. Optas LLC raised its position in AppLovin by 2.5% in the 3rd quarter. Optas LLC now owns 877 shares of the company’s stock valued at $630,000 after buying an additional 21 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its position in AppLovin by 19.6% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock valued at $96,000 after buying an additional 22 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Victoria Valenzuela sold 7,609 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 13.66% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of several research reports. Evercore reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Wedbush increased their target price on shares of AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Benchmark reiterated a “buy” rating on shares of AppLovin in a research note on Friday. Finally, Wells Fargo & Company cut their price target on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Twenty-one research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $654.50.

AppLovin Price Performance

Shares of APP opened at $502.14 on Monday. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The company’s fifty day simple moving average is $514.19 and its 200 day simple moving average is $573.97. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The company has a market cap of $169.36 billion, a price-to-earnings ratio of 51.50, a PEG ratio of 1.03 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was up 66.0% compared to the same quarter last year. On average, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin 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.