Quantinno Capital Management LP Buys 3,812 Shares of AppLovin Co. (NASDAQ:APP)

Quantinno Capital Management LP boosted its position in AppLovin Co. (NASDAQ:APP - Free Report) by 146.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,412 shares of the company's stock after acquiring an additional 3,812 shares during the period. Quantinno Capital Management LP's holdings in AppLovin were worth $837,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in APP. Townsquare Capital LLC increased its position in shares of AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock worth $1,037,000 after acquiring an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC acquired a new position in AppLovin during the 3rd quarter valued at about $224,000. Eagle Asset Management Inc. increased its holdings in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company's stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of AppLovin by 10.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company's stock valued at $3,440,000 after purchasing an additional 2,385 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 17,925 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 872,896 shares of company stock worth $279,773,021 in the last quarter. 14.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

APP has been the subject of several analyst reports. Stifel Nicolaus increased their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Wells Fargo & Company upped their price objective on shares of AppLovin from $250.00 to $360.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Thursday, November 7th. Wedbush restated an "outperform" rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on AppLovin from $160.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $292.79.

AppLovin Price Performance

Shares of APP stock traded down $1.74 on Friday, reaching $324.47. The company's stock had a trading volume of 4,704,074 shares, compared to its average volume of 4,585,837. The company has a market capitalization of $108.89 billion, a P/E ratio of 98.32, a PEG ratio of 4.17 and a beta of 2.28. AppLovin Co. has a 12-month low of $37.40 and a 12-month high of $417.64. The stock's 50 day simple moving average is $246.00 and its 200-day simple moving average is $144.80. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data 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. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the business earned $0.30 earnings per share. AppLovin's revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

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.