Caxton Associates LLP Buys New Shares in AppLovin Corporation $APP

Caxton Associates LLP purchased a new stake in AppLovin Corporation (NASDAQ:APP) in the second quarter, HoldingsChannel reports. The fund purchased 10,443 shares of the company’s stock, valued at approximately $3,656,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of APP. Vanguard Group Inc. lifted its stake in shares of AppLovin by 0.4% in the second quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock valued at $6,267,410,000 after buying an additional 72,120 shares during the period. Price T Rowe Associates Inc. MD increased its stake in AppLovin by 36.7% during the first 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 period. State Street Corp raised its holdings in AppLovin by 2.4% in the 2nd quarter. State Street Corp now owns 5,615,415 shares of the company’s stock valued at $1,965,844,000 after acquiring an additional 133,402 shares in the last quarter. Kensico Capital Management Corp lifted its position in shares of AppLovin by 12.9% in the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock worth $762,849,000 after acquiring an additional 328,000 shares during the period. Finally, Fred Alger Management LLC lifted its position in shares of AppLovin by 12.0% in the 1st quarter. Fred Alger Management LLC now owns 2,833,792 shares of the company’s stock worth $750,870,000 after acquiring an additional 303,063 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Vasily Shikin sold 27,143 shares of the firm’s 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 sale, the chief technology officer directly owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 150,000 shares of AppLovin stock in a transaction dated 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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 332,727 shares of company stock worth $195,062,520. Insiders own 13.66% of the company’s stock.

AppLovin Stock Down 6.5%

Shares of NASDAQ:APP opened at $670.67 on Friday. The company’s fifty day moving average is $608.97 and its 200-day moving average is $501.74. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The company has a market capitalization of $226.66 billion, a PE ratio of 81.39, a P/E/G ratio of 3.60 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its 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. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS. Equities research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of a number of research reports. Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on shares of AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company increased their price objective on shares of AppLovin from $633.00 to $721.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group lifted their target price on shares of AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Benchmark upped their target price on shares of AppLovin from $700.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $692.60.

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.