Quadrature Capital Ltd Has $4.11 Million Stake in AppLovin Co. (NASDAQ:APP)

Quadrature Capital Ltd decreased its position in AppLovin Co. (NASDAQ:APP) by 73.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,516 shares of the company’s stock after selling 89,074 shares during the period. Quadrature Capital Ltd’s holdings in AppLovin were worth $4,113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of APP. WCM Investment Management LLC increased its position in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. FMR LLC increased its position in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares in the last quarter. Lone Pine Capital LLC increased its position in shares of AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares in the last quarter. Fred Alger Management LLC increased its position in shares of AppLovin by 1.3% during the third quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock worth $462,077,000 after acquiring an additional 46,854 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of AppLovin by 31.3% during the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after acquiring an additional 560,560 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 1.4 %

NASDAQ:APP opened at $379.07 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a 50-day simple moving average of $215.80 and a two-hundred day simple moving average of $131.81. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $397.47. The firm has a market cap of $127.21 billion, a P/E ratio of 114.87, a P/E/G ratio of 4.52 and a beta of 2.28.

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

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $86.04, for a total value of $473,220.00. Following the completion of the transaction, the chief technology officer now directly owns 4,536,447 shares in the company, valued at $390,315,899.88. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 778,320 shares of company stock worth $246,810,683. 14.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on APP shares. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group boosted their price target on shares of AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler started coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Wedbush restated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, BTIG Research boosted their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $275.84.

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.