Versor Investments LP Sells 1,845 Shares of AppLovin Co. (NASDAQ:APP)

Versor Investments LP lessened its holdings in AppLovin Co. (NASDAQ:APP) by 15.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,755 shares of the company’s stock after selling 1,845 shares during the quarter. Versor Investments LP’s holdings in AppLovin were worth $1,274,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in APP. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter valued at $25,000. DT Investment Partners LLC acquired a new position in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin during the third quarter valued at $29,000. Quest Partners LLC acquired a new stake in shares of AppLovin in the 2nd quarter valued at $33,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of AppLovin in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday. Bank of America increased their price objective on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $280.00 in a research note on Friday. Finally, BTIG Research increased their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $194.31.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,306 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $83.71, for a total value of $6,052,735.26. Following the sale, the chief marketing officer now directly owns 1,092,090 shares in the company, valued at approximately $91,418,853.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,172 shares of company stock valued at $40,723,512 in the last 90 days. 14.69% of the stock is owned by insiders.

AppLovin Stock Down 1.2 %

NASDAQ:APP opened at $286.43 on Tuesday. The company has a quick ratio of 2.28, a current 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 $292.86. The stock’s fifty day simple moving average is $143.14 and its 200-day simple moving average is $103.05. The firm has a market capitalization of $95.74 billion, a P/E ratio of 86.80, a P/E/G ratio of 4.18 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 analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. Equities research analysts expect that AppLovin Co. will post 3.98 earnings per share for the current 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.