XTX Topco Ltd Acquires Shares of 2,704 AppLovin Corporation (NASDAQ:APP)

Key Points

• XTX Topco Ltd acquired 2,704 shares of AppLovin Corporation, valued at approximately $716,000, in the first quarter of the year.
• CEO Arash Adam Foroughi sold 100,000 shares for $36.75 million, reducing his ownership by 3.5%, while insider transactions totaled more than $455 million in the last three months.
• Several analysts have set a consensus price target of $447.57 for AppLovin, with a "Moderate Buy" rating based on recent performance and future earnings expectations.

XTX Topco Ltd acquired a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,704 shares of the company's stock, valued at approximately $716,000.

Several other institutional investors have also recently bought and sold shares of APP. Revolve Wealth Partners LLC bought a new position in AppLovin in the 4th quarter valued at $294,000. World Investment Advisors bought a new stake in shares of AppLovin during the fourth quarter worth $847,000. Wells Fargo & Company MN raised its position in shares of AppLovin by 17.2% during the fourth quarter. Wells Fargo & Company MN now owns 293,992 shares of the company's stock worth $95,204,000 after acquiring an additional 43,168 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of AppLovin during the fourth quarter worth $236,000. Finally, Quadrant Capital Group LLC raised its position in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 100,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,760,363 shares of the company's stock, valued at $1,014,461,006.13. This represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 171,420 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $373.77, for a total value of $64,071,653.40. Following the transaction, the director directly owned 221,209 shares of the company's stock, valued at $82,681,287.93. This represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock valued at $455,062,980 over the last three months. 13.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APP. Benchmark restated a "buy" rating and set a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. Citigroup restated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. HSBC set a $436.00 target price on AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. The Goldman Sachs Group boosted their target price on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, BTIG Research boosted their target price on AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $447.57.

AppLovin Stock Up 4.2%

NASDAQ:APP opened at $395.01 on Tuesday. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. The stock has a market cap of $133.67 billion, a price-to-earnings ratio of 71.30, a PEG ratio of 2.26 and a beta of 2.43. The stock has a 50-day moving average price of $364.27 and a two-hundred day moving average price of $337.95.

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

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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