WINTON GROUP Ltd Makes New $2.30 Million Investment in AppLovin Corporation $APP

WINTON GROUP Ltd acquired a new position in AppLovin Corporation (NASDAQ:APP) in the second quarter, HoldingsChannel reports. The firm acquired 6,578 shares of the company’s stock, valued at approximately $2,303,000.

Several other institutional investors and hedge funds also recently made changes to their positions in APP. Norges Bank bought a new stake in AppLovin in the second quarter worth $951,541,000. Price T Rowe Associates Inc. MD lifted its stake in shares of AppLovin by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after acquiring an additional 1,769,400 shares during the last quarter. Nuveen LLC bought a new stake in shares of AppLovin in the 1st quarter valued at about $198,050,000. Royal Bank of Canada boosted its holdings in AppLovin by 61.1% during the 1st quarter. Royal Bank of Canada now owns 1,434,503 shares of the company’s stock valued at $380,102,000 after acquiring an additional 544,107 shares during the period. Finally, Amundi grew its position in AppLovin by 82.8% during the 1st quarter. Amundi now owns 1,103,586 shares of the company’s stock worth $289,117,000 after acquiring an additional 499,820 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the transaction, the chief technology officer owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo Vivas sold 150,000 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the transaction, the director directly owned 7,133,292 shares of the company’s stock, valued at $4,643,131,095.72. This represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 332,577 shares of company stock valued at $194,958,522. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Up 5.1%

NASDAQ:APP opened at $724.62 on Wednesday. The company has a 50-day moving average price of $608.56 and a 200-day moving average price of $495.73. The stock has a market cap of $244.89 billion, a price-to-earnings ratio of 87.94, a P/E/G ratio of 3.70 and a beta of 2.51. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. AppLovin’s revenue was up 68.2% on a year-over-year basis. Equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on APP shares. Benchmark boosted their price objective on AppLovin from $640.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Scotiabank upped their price target on shares of AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. UBS Group increased their price target on shares of AppLovin from $810.00 to $840.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Morgan Stanley boosted their price objective on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Nineteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $679.85.

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.