B. Metzler seel. Sohn & Co. Holding AG Invests $714,000 in AppLovin Co. (NASDAQ:APP)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 3rd quarter, Holdings Channel.com reports. The firm bought 5,468 shares of the company’s stock, valued at approximately $714,000.

A number of other institutional investors have also recently added to or reduced their stakes in APP. Fred Alger Management LLC purchased a new position in AppLovin in the second quarter valued at about $290,655,000. Jericho Capital Asset Management L.P. raised its holdings in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares during the period. 1832 Asset Management L.P. boosted its holdings in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares during the period. WCM Investment Management LLC grew its position in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in AppLovin by 695.0% in the second quarter. Envestnet Asset Management Inc. now owns 549,453 shares of the company’s stock valued at $45,725,000 after acquiring an additional 480,336 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APP. Jefferies Financial Group upped their target price on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Wedbush reiterated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Loop Capital lifted their price objective on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.96.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 854,065 shares of company stock worth $233,072,408 over the last ninety days. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Up 4.7 %

NASDAQ APP opened at $333.31 on Friday. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $342.51. The company has a market capitalization of $111.86 billion, a P/E ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. The company’s 50 day simple moving average is $181.30 and its 200 day simple moving average is $117.41. 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, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. Equities research analysts expect that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

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.