Simon Quick Advisors LLC Has $732,000 Stock Position in AppLovin Corporation $APP

Simon Quick Advisors LLC boosted its position in shares of AppLovin Corporation (NASDAQ:APP) by 12.7% in the second quarter, Holdings Channel.com reports. The firm owned 2,090 shares of the company’s stock after purchasing an additional 236 shares during the period. Simon Quick Advisors LLC’s holdings in AppLovin were worth $732,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Strs Ohio boosted its position in AppLovin by 10.1% during the second quarter. Strs Ohio now owns 357,924 shares of the company’s stock valued at $125,302,000 after purchasing an additional 32,707 shares during the last quarter. Assetmark Inc. boosted its position in AppLovin by 5.9% during the second quarter. Assetmark Inc. now owns 19,406 shares of the company’s stock valued at $6,794,000 after purchasing an additional 1,078 shares during the last quarter. Premier Path Wealth Partners LLC acquired a new stake in AppLovin during the second quarter valued at $200,000. World Investment Advisors acquired a new stake in AppLovin during the second quarter valued at $669,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in AppLovin during the second quarter valued at $232,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $637.33 on Friday. AppLovin Corporation has a twelve month low of $158.33 and a twelve month high of $745.61. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market capitalization of $215.58 billion, a PE ratio of 90.53, a P/E/G ratio of 3.37 and a beta of 2.53. The stock has a 50-day simple moving average of $589.79 and a 200 day simple moving average of $437.07.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The firm’s revenue was up 77.1% compared to the same quarter last year. Research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APP shares. Oppenheimer set a $740.00 price target on AppLovin in a research report on Tuesday, October 7th. Citigroup boosted their price target on AppLovin from $600.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada started coverage on AppLovin in a research report on Monday, October 13th. They issued an “outperform” rating and a $700.00 price target for the company. Weiss Ratings cut AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $606.39.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares of the company’s stock, valued at $1,103,147,536.16. This represents a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eduardo Vivas sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is currently owned by company insiders.

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.