B. Metzler seel. Sohn & Co. AG Sells 161 Shares of AppLovin Co. (NASDAQ:APP)

B. Metzler seel. Sohn & Co. AG lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,307 shares of the company’s stock after selling 161 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in AppLovin were worth $1,719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. SVB Wealth LLC bought a new position in AppLovin during the fourth quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. raised its holdings in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Norges Bank bought a new position in shares of AppLovin during the 4th quarter valued at approximately $828,138,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after purchasing an additional 2,373,885 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in AppLovin by 193.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company’s stock worth $882,469,000 after purchasing an additional 1,797,027 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on APP. Oppenheimer reiterated an “outperform” rating on shares of AppLovin in a research report on Thursday, March 27th. Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Macquarie lifted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, UBS Group increased their price target on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $435.47.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $290.39 on Thursday. The company has a market capitalization of $98.72 billion, a P/E ratio of 63.96, a P/E/G ratio of 3.02 and a beta of 2.33. The company’s 50-day simple moving average is $347.77 and its two-hundred day simple moving average is $286.73. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities analysts anticipate that AppLovin Co. will post 6.87 EPS 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.