XTX Topco Ltd Makes New $3.76 Million Investment in AppLovin Co. (NASDAQ:APP)

XTX Topco Ltd acquired a new stake in AppLovin Co. (NASDAQ:APP) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 28,765 shares of the company’s stock, valued at approximately $3,755,000. AppLovin comprises approximately 0.3% of XTX Topco Ltd’s investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors have also made changes to their positions in APP. Capital Performance Advisors LLP bought a new stake in AppLovin during the third quarter worth about $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the third quarter valued at $29,000. Finally, Quest Partners LLC acquired a new position in AppLovin during the second quarter worth $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 5.9 %

Shares of AppLovin stock opened at $401.50 on Friday. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $417.64. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $134.74 billion, a PE ratio of 121.67, a price-to-earnings-growth ratio of 4.60 and a beta of 2.28. The firm’s 50 day moving average is $226.30 and its 200 day moving average is $135.73.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. Equities research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Craig Scott Billings sold 18,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the sale, the director now directly owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This represents a 85.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 778,320 shares of company stock valued at $246,810,683. Insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APP. Stifel Nicolaus increased their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup raised their target price on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler began coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Finally, Macquarie increased their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

AppLovin 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.