Quantinno Capital Management LP Purchases 29,743 Shares of AppLovin Corporation $APP

Quantinno Capital Management LP lifted its position in shares of AppLovin Corporation (NASDAQ:APP) by 13.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 251,891 shares of the company’s stock after acquiring an additional 29,743 shares during the quarter. Quantinno Capital Management LP’s holdings in AppLovin were worth $100,253,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Calamos Advisors LLC grew its stake in AppLovin by 73.3% in the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after purchasing an additional 20,609 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new stake in shares of AppLovin during the fourth quarter valued at about $4,043,000. Dara Capital US Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at about $1,747,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of AppLovin by 12.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,265 shares of the company’s stock valued at $131,573,000 after buying an additional 21,427 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of AppLovin by 97.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 43,988 shares of the company’s stock valued at $29,640,000 after buying an additional 21,694 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the transaction, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 393,000 shares of company stock worth $197,297,363 in the last three months. 12.81% of the stock is owned by company insiders.

AppLovin Stock Performance

APP opened at $412.73 on Tuesday. AppLovin Corporation has a 52-week low of $358.55 and a 52-week high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market cap of $138.65 billion, a P/E ratio of 35.46, a price-to-earnings-growth ratio of 0.64 and a beta of 2.49. The firm’s 50-day moving average price is $497.38 and its 200-day moving average price is $477.57.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same period last year, the business earned $1.67 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. BTIG Research restated a “buy” rating and issued a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Raymond James Financial started coverage on AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price target on the stock. Finally, Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $668.45.

About AppLovin

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.