Quantinno Capital Management LP Buys 23,971 Shares of AppLovin Co. (NASDAQ:APP)

Quantinno Capital Management LP lifted its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 373.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,383 shares of the company's stock after purchasing an additional 23,971 shares during the quarter. Quantinno Capital Management LP's holdings in AppLovin were worth $9,839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in APP. Oxinas Partners Wealth Management LLC bought a new position in AppLovin in the 4th quarter valued at about $1,081,000. Barclays PLC lifted its position in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after acquiring an additional 153,248 shares in the last quarter. Tcfg Wealth Management LLC bought a new position in AppLovin in the 4th quarter valued at about $369,000. Caprock Group LLC lifted its position in AppLovin by 42.2% in the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company's stock valued at $13,648,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in AppLovin in the 4th quarter valued at about $382,000. Institutional investors own 41.85% of the company's stock.

AppLovin Stock Up 1.7%

AppLovin stock opened at $376.54 on Thursday. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The firm has a market capitalization of $128.01 billion, a price-to-earnings ratio of 82.94, a P/E/G ratio of 3.02 and a beta of 2.39. 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 50 day simple moving average of $280.48 and a 200 day simple moving average of $314.77.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin's revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. On average, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on APP shares. Benchmark reaffirmed a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. Citigroup lifted their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. HSBC set a $436.00 target price on shares of AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Morgan Stanley lifted their target price on shares of AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $433.85.

Insider Activity

In related news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig Scott Billings sold 12,000 shares of the company'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 owns 2,987 shares of the company's stock, valued at $1,054,769.44. This trade represents a 80.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,900 shares of company stock worth $110,639,281 in the last three months. Corporate insiders own 14.69% of the company's stock.

AppLovin Company 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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