Quintet Private Bank Europe S.A. Invests $509,000 in AppLovin Co. (NASDAQ:APP)

Quintet Private Bank Europe S.A. bought a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 3,900 shares of the company’s stock, valued at approximately $509,000.

Several other hedge funds have also modified their holdings of the stock. Lone Pine Capital LLC lifted its holdings in AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after buying an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its stake in shares of AppLovin by 185.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC purchased a new position in AppLovin in the second quarter valued at about $290,655,000. Whale Rock Capital Management LLC acquired a new stake in AppLovin during the 1st quarter valued at approximately $195,129,000. Finally, 1832 Asset Management L.P. increased its holdings in AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APP shares. Oppenheimer increased their target price on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Wells Fargo & Company assumed coverage on shares of AppLovin in a research note on Monday, October 28th. They issued an “overweight” rating and a $200.00 target price on the stock. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Jefferies Financial Group upped their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $136.78.

Insider Transactions at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 610,094 shares of company stock valued at $51,022,478. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

AppLovin stock traded down $3.30 during mid-day trading on Monday, hitting $160.23. 1,453,115 shares of the company’s stock traded hands, compared to its average volume of 4,123,529. The company has a market cap of $53.56 billion, a PE ratio of 67.76, a price-to-earnings-growth ratio of 2.44 and a beta of 1.86. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a one year low of $35.79 and a one year high of $174.46. The firm has a 50 day moving average price of $127.73 and a 200 day moving average price of $96.69.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm posted $0.22 EPS. AppLovin’s revenue was up 44.0% compared to the same quarter last year. On average, equities analysts forecast that AppLovin Co. will post 3.47 EPS for the current year.

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.