AQR Capital Management LLC Sells 493,872 Shares of AppLovin Co. (NASDAQ:APP)

AQR Capital Management LLC lowered its position in AppLovin Co. (NASDAQ:APP) by 66.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 251,842 shares of the company’s stock after selling 493,872 shares during the period. AQR Capital Management LLC’s holdings in AppLovin were worth $20,958,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in APP. American Trust increased its position in shares of AppLovin by 2.8% during the first quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after acquiring an additional 150 shares in the last quarter. Highland Capital Management LLC increased its holdings in AppLovin by 0.5% during the 1st quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock worth $1,946,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of AppLovin by 13.6% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $89,000 after purchasing an additional 154 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of AppLovin by 10.3% in the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock valued at $184,000 after purchasing an additional 205 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of AppLovin by 9.5% in the second quarter. Signaturefd LLC now owns 2,489 shares of the company’s stock valued at $207,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the transaction, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction on 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 sale, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The disclosure for this sale can be found here. Insiders sold 728,933 shares of company stock valued at $61,807,117 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

NASDAQ APP opened at $130.55 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market cap of $42.95 billion, a PE ratio of 77.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $133.05. The firm’s 50-day simple moving average is $93.36 and its two-hundred day simple moving average is $83.34.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share 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 business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.22 EPS. AppLovin’s revenue was up 44.0% compared to the same quarter last year. Research analysts predict that AppLovin Co. will post 3.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on APP shares. BTIG Research increased their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Benchmark upped their target price on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. Oppenheimer restated an “outperform” rating and set a $105.00 price target (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Bank of America increased their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Macquarie reissued an “outperform” rating and set a $150.00 target price (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.44.

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.