B. Metzler seel. Sohn & Co. AG Purchases 35,643 Shares of AppLovin Corporation $APP

B. Metzler seel. Sohn & Co. AG lifted its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 69.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,674 shares of the company's stock after purchasing an additional 35,643 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in AppLovin were worth $44,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Revolve Wealth Partners LLC bought a new stake in AppLovin during the 4th quarter worth approximately $294,000. Bison Wealth LLC purchased a new stake in AppLovin in the 4th quarter valued at $239,000. Integrated Wealth Concepts LLC lifted its stake in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock valued at $448,000 after acquiring an additional 621 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock worth $5,084,000 after acquiring an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company's stock valued at $48,727,000 after acquiring an additional 9,380 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 2.3%

AppLovin stock opened at $319.05 on Thursday. The firm has a 50 day simple moving average of $400.36 and a 200 day simple moving average of $441.67. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. AppLovin Corporation has a 1-year low of $297.50 and a 1-year high of $745.61. The firm has a market capitalization of $106.77 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 0.66 and a beta of 2.49.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting the consensus estimate of $3.76. The company had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The firm's quarterly revenue was up 52.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.39 earnings per share. On average, analysts predict that AppLovin Corporation will post 15.53 earnings per share for the current year.

Insider Transactions at AppLovin

In related news, Director Maynard G. Webb, Jr. sold 3,076 shares of the company's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the sale, the director owned 120,444 shares of the company's stock, valued at approximately $62,786,252.76. This represents a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares of the company's stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 274,228 shares of company stock valued at $137,086,185. 12.81% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APP. Citigroup decreased their target price on AppLovin from $710.00 to $650.00 and set a "buy" rating for the company in a research report on Friday, August 7th. William Blair set a $440.00 target price on shares of AppLovin in a research report on Monday, August 17th. UBS Group decreased their price target on shares of AppLovin from $798.00 to $790.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Phillip Securities raised shares of AppLovin from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Finally, Piper Sandler dropped their price objective on AppLovin from $385.00 to $325.00 and set a "neutral" rating on the stock in a research note on Friday, August 21st. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $538.61.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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