Capula Management Ltd Boosts Stock Holdings in AppLovin Corporation $APP

by · The Cerbat Gem

Capula Management Ltd increased its stake in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,390 shares of the company’s stock after acquiring an additional 1,246 shares during the quarter. AppLovin makes up 0.1% of Capula Management Ltd’s investment portfolio, making the stock its 24th largest position. Capula Management Ltd’s holdings in AppLovin were worth $7,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Advisory Inc. increased its stake in shares of AppLovin by 1.3% in the second quarter. Brown Advisory Inc. now owns 5,918 shares of the company’s stock worth $2,072,000 after buying an additional 77 shares during the period. Amundi grew its holdings in AppLovin by 17.7% in the 2nd quarter. Amundi now owns 1,299,140 shares of the company’s stock worth $436,511,000 after acquiring an additional 195,554 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of AppLovin in the second quarter valued at about $49,200,000. Epoch Investment Partners Inc. purchased a new position in shares of AppLovin in the second quarter valued at about $49,867,000. Finally, Baird Financial Group Inc. bought a new position in shares of AppLovin during the second quarter valued at about $5,233,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $691.94 on Friday. The firm has a market cap of $233.84 billion, a price-to-earnings ratio of 83.97, a price-to-earnings-growth ratio of 3.67 and a beta of 2.51. The business has a 50-day moving average price of $608.89 and a 200-day moving average price of $488.93. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38.

AppLovin (NASDAQ:APP – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue was up 68.2% compared to the same quarter last year. As a group, equities research analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the sale, the chief technology officer owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares in the company, valued at approximately $1,328,384,136.69. The trade was a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 332,577 shares of company stock worth $194,958,522 in the last three months. Corporate insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APP. Wells Fargo & Company raised their target price on AppLovin from $633.00 to $721.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Royal Bank Of Canada lifted their price objective on AppLovin from $700.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group upped their price objective on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a report on Friday, September 5th. The Goldman Sachs Group upped their price target on AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Finally, Wedbush boosted their price target on AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Nineteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $679.85.

Check Out Our Latest Stock Analysis on APP

About AppLovin

(Free Report)

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.

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