Caxton Associates LP Grows Position in AppLovin Co. (NASDAQ:APP)

Caxton Associates LP grew its stake in shares of AppLovin Co. (NASDAQ:APP) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,754 shares of the company’s stock after purchasing an additional 3,235 shares during the quarter. Caxton Associates LP’s holdings in AppLovin were worth $1,810,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Precision Wealth Strategies LLC bought a new position in shares of AppLovin during the fourth quarter valued at approximately $324,000. Norges Bank bought a new position in AppLovin in the fourth quarter worth $43,973,000. Franklin Resources Inc. raised its holdings in AppLovin by 154.9% in the fourth quarter. Franklin Resources Inc. now owns 235,187 shares of the company’s stock worth $9,372,000 after purchasing an additional 142,938 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in AppLovin by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 96,140 shares of the company’s stock worth $3,831,000 after purchasing an additional 807 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in AppLovin by 104,207.7% in the fourth quarter. TFO Wealth Partners LLC now owns 13,560 shares of the company’s stock worth $518,000 after purchasing an additional 13,547 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on APP shares. Macquarie reiterated an “outperform” rating and issued a $150.00 price objective (up previously from $115.00) on shares of AppLovin in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. BTIG Research increased their target price on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Bank of America increased their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Citigroup increased their target price on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.44.

AppLovin Trading Up 1.3 %

Shares of NASDAQ:APP opened at $130.71 on Thursday. The stock has a market capitalization of $43.69 billion, a price-to-earnings ratio of 77.80, a PEG ratio of 1.82 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The stock’s 50-day simple moving average is $90.55 and its two-hundred day simple moving average is $81.78. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $131.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was up 44.0% on a year-over-year basis. Analysts expect that AppLovin Co. will post 3.46 EPS for the current year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the transaction, the insider now owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of AppLovin stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the sale, the insider now owns 390,615 shares of the company’s stock, valued at approximately $33,225,711.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 118,839 shares of AppLovin stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold 775,934 shares of company stock valued at $65,805,022 over the last quarter. 14.69% 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.