nVerses Capital LLC Cuts Holdings in AppLovin Co. (NASDAQ:APP)

nVerses Capital LLC reduced its position in AppLovin Co. (NASDAQ:APP) by 76.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 300 shares of the company’s stock after selling 1,000 shares during the period. nVerses Capital LLC’s holdings in AppLovin were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its holdings in shares of AppLovin by 5.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 13,178 shares of the company’s stock worth $1,720,000 after acquiring an additional 708 shares in the last quarter. Swedbank AB increased its position in AppLovin by 24.7% in the third quarter. Swedbank AB now owns 96,455 shares of the company’s stock worth $12,592,000 after purchasing an additional 19,100 shares during the last quarter. Creative Planning raised its stake in AppLovin by 251.2% during the third quarter. Creative Planning now owns 144,883 shares of the company’s stock valued at $18,914,000 after purchasing an additional 103,628 shares in the last quarter. ORG Wealth Partners LLC bought a new position in AppLovin during the third quarter valued at $42,000. Finally, Annex Advisory Services LLC grew its stake in shares of AppLovin by 21.0% in the 3rd quarter. Annex Advisory Services LLC now owns 242,219 shares of the company’s stock worth $31,622,000 after buying an additional 42,073 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares in the company, valued at approximately $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,094 shares of company stock worth $51,022,478. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

AppLovin stock opened at $158.95 on Wednesday. The stock has a market cap of $52.30 billion, a price-to-earnings ratio of 94.61, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The firm has a 50-day moving average of $113.67 and a two-hundred day moving average of $91.00. AppLovin Co. has a 1 year low of $34.45 and a 1 year high of $163.08. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data 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. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s revenue was up 44.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 earnings per share. On average, research analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current year.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and upped their price objective for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 target price (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. 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. Finally, Citigroup raised their price target on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.45.

AppLovin 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.