B. Metzler seel. Sohn & Co. AG Raises Position in AppLovin Corporation $APP

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in AppLovin Corporation by 20.6% in Q1, owning 6,399 shares worth approximately $1.7 million.
• AppLovin's stock is currently priced at $478.59, with a 12-month range between $82.51 and $525.15, and a market cap of $161.88 billion.
• The company's latest quarterly earnings report showed $2.26 earnings per share, exceeding analysts' estimates, despite revenue falling short of expectations.

B. Metzler seel. Sohn & Co. AG boosted its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 20.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,399 shares of the company's stock after buying an additional 1,092 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in AppLovin were worth $1,696,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Forum Financial Management LP increased its holdings in shares of AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after acquiring an additional 33 shares in the last quarter. Vestcor Inc grew its position in AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock valued at $1,088,000 after purchasing an additional 33 shares during the period. GSG Advisors LLC increased its stake in AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock valued at $2,820,000 after purchasing an additional 35 shares in the last quarter. Argentarii LLC raised its holdings in AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after buying an additional 40 shares during the last quarter. Finally, Atlas Capital Advisors Inc. lifted its stake in shares of AppLovin by 11.3% in the first quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock valued at $104,000 after buying an additional 40 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $10.44 during mid-day trading on Wednesday, reaching $492.17. 2,144,891 shares of the company's stock were exchanged, compared to its average volume of 6,985,734. The firm has a 50-day moving average price of $392.91 and a two-hundred day moving average price of $347.94. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a market capitalization of $166.48 billion, a price-to-earnings ratio of 69.94, a price-to-earnings-growth ratio of 2.68 and a beta of 2.44. AppLovin Corporation has a 52 week low of $82.51 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The firm's revenue for the quarter was up 77.1% on a year-over-year basis. Analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 26,200 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the sale, the chief executive officer owned 2,590,054 shares in the company, valued at $1,140,219,472.42. This trade represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,564 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.48, for a total transaction of $7,683,898.72. Following the sale, the chief technology officer owned 53,389 shares of the company's stock, valued at approximately $23,356,619.72. The trade was a 24.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,236,152 shares of company stock worth $545,240,378 in the last quarter. Insiders own 13.66% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on APP shares. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Morgan Stanley upped their target price on shares of AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Zacks Research upgraded shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. The Goldman Sachs Group upped their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Scotiabank restated an "outperform" rating on shares of AppLovin in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average target price of $478.81.

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.