Vinva Investment Management Ltd Grows Position in AppLovin Co. (NASDAQ:APP)

Vinva Investment Management Ltd boosted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 18.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,251 shares of the company’s stock after acquiring an additional 13,465 shares during the period. Vinva Investment Management Ltd’s holdings in AppLovin were worth $10,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in shares of AppLovin during the third quarter valued at approximately $25,000. DT Investment Partners LLC bought a new position in AppLovin in the third quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new stake in AppLovin during the 3rd quarter valued at $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 12.77 % 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 Stock Performance

APP opened at $328.56 on Thursday. 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 Co. has a 12-month low of $35.79 and a 12-month high of $344.77. The firm has a 50 day moving average of $189.49 and a two-hundred day moving average of $121.08. The firm has a market capitalization 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 (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. On average, analysts anticipate that AppLovin Co. will post 4.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APP. JPMorgan Chase & Co. upped their price objective on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Loop Capital increased their price target on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Bank of America increased their target price on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price target on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $265.57.

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.