Quotient Wealth Partners LLC Makes New Investment in AppLovin Corporation $APP

Key Points

• Quotient Wealth Partners LLC made a new investment in AppLovin Corporation, purchasing 708 shares valued at approximately $248,000 in the second quarter.
• Insider transactions saw the CTO sell 30,000 shares for over $13 million, while a Director sold 125,000 shares worth approximately $58 million, indicating significant insider activity.
• Analysts have a generally positive outlook on AppLovin, with an average target price of $600.59, and several institutions recently raised their ratings and price targets.

Quotient Wealth Partners LLC bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 708 shares of the company's stock, valued at approximately $248,000.

A number of other institutional investors have also recently bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin during the 4th quarter worth $294,000. Bison Wealth LLC acquired a new stake in AppLovin during the 4th quarter worth $239,000. Kingswood Wealth Advisors LLC grew its holdings in AppLovin by 5.1% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after acquiring an additional 80 shares during the period. Stonegate Investment Group LLC grew its holdings in AppLovin by 45.4% during the 1st quarter. Stonegate Investment Group LLC now owns 1,201 shares of the company's stock worth $318,000 after acquiring an additional 375 shares during the period. Finally, GAM Holding AG grew its holdings in AppLovin by 47.1% during the 1st quarter. GAM Holding AG now owns 5,195 shares of the company's stock worth $1,377,000 after acquiring an additional 1,663 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 30,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value 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 approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $599.31 on Monday. The firm has a market cap of $202.72 billion, a PE ratio of 85.13, a PEG ratio of 3.25 and a beta of 2.53. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 1-year low of $141.35 and a 1-year high of $745.61. The company has a fifty day moving average price of $556.25 and a 200 day moving average price of $413.34.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. Research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of AppLovin from $491.00 to $633.00 and gave the stock an "overweight" rating in a report on Tuesday, October 14th. Phillip Securities raised shares of AppLovin to a "moderate buy" rating in a report on Monday, September 29th. Wedbush boosted their price target on shares of AppLovin from $725.00 to $745.00 and gave the company an "outperform" rating in a report on Monday, October 6th. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group boosted their price target on shares of AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $600.59.

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.

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