Syquant Capital Sas Acquires Shares of 6,929 AppLovin Corporation (NASDAQ:APP)

Syquant Capital Sas bought a new stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,929 shares of the company's stock, valued at approximately $1,836,000. AppLovin accounts for approximately 1.3% of Syquant Capital Sas' investment portfolio, making the stock its 8th biggest holding.

A number of other hedge funds also recently modified their holdings of the company. Kingswood Wealth Advisors LLC raised its stake in shares of AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after buying an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in AppLovin by 62.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after buying an additional 66,453 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of AppLovin by 3.5% in the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after buying an additional 119 shares during the period. Peak Retirement Planning Inc. bought a new stake in AppLovin in the 4th quarter valued at $969,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock valued at $1,106,000 after purchasing an additional 121 shares during the period. Institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

NASDAQ:APP traded down $10.68 on Wednesday, reaching $338.80. 4,105,604 shares of the company's stock were exchanged, compared to its average volume of 6,139,072. The stock has a fifty day simple moving average of $337.27 and a 200-day simple moving average of $333.51. The firm has a market cap of $114.65 billion, a price-to-earnings ratio of 61.16, a P/E/G ratio of 1.95 and a beta of 2.53. AppLovin Corporation has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the company posted $0.67 EPS. The business's quarterly revenue was up 40.3% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, Director Craig Scott Billings sold 12,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the completion of the transaction, the director now directly owns 2,987 shares in the company, valued at $1,054,769.44. This trade represents a 80.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 33,700 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total value of $12,318,698.00. Following the transaction, the chief executive officer now directly owns 2,760,363 shares in the company, valued at approximately $1,009,023,091.02. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APP. The Goldman Sachs Group raised their target price on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Wednesday, May 28th. HSBC set a $436.00 target price on shares of AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group upped their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Citigroup reissued a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $438.10.

About AppLovin

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.