AppLovin Co. (NASDAQ:APP) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 18.8% in the third quarter, HoldingsChannel.com reports. The fund owned 85,251 shares of the company’s stock after purchasing an additional 13,465 shares during the period. Vinva Investment Management Ltd’s holdings in AppLovin were worth $10,891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the third quarter worth about $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the 3rd quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the third quarter valued at approximately $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin in the second quarter valued at approximately $33,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $328.56 on Thursday. The stock has a market cap of $110.26 billion, a PE ratio of 99.56, a P/E/G ratio of 3.94 and a beta of 1.86. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $344.77. The stock has a fifty day simple moving average of $189.49 and a 200-day simple moving average of $121.08. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Equities analysts anticipate that AppLovin Co. will post 4.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on APP shares. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Piper Sandler assumed coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and raised their target price for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 21,101 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now owns 213,336 shares of the company’s stock, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 854,065 shares of company stock worth $233,072,408. 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.