AppLovin Co. (NASDAQ:APP) Position Decreased by Metavasi Capital LP

Metavasi Capital LP decreased its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 57.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,721 shares of the company's stock after selling 74,000 shares during the quarter. AppLovin comprises 6.4% of Metavasi Capital LP's holdings, making the stock its 2nd largest position. Metavasi Capital LP's holdings in AppLovin were worth $18,044,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Mercer Global Advisors Inc. ADV grew its stake in shares of AppLovin by 39.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 62,397 shares of the company's stock valued at $20,206,000 after buying an additional 17,746 shares during the period. Itau Unibanco Holding S.A. grew its position in AppLovin by 633.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 308 shares of the company's stock worth $100,000 after acquiring an additional 266 shares during the period. Westbourne Investments Inc. acquired a new stake in AppLovin during the fourth quarter worth $1,133,000. JAT Capital Mgmt LP raised its position in AppLovin by 20.1% in the fourth quarter. JAT Capital Mgmt LP now owns 114,081 shares of the company's stock valued at $36,943,000 after purchasing an additional 19,081 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new stake in AppLovin in the fourth quarter valued at $227,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Oppenheimer reissued an "outperform" rating and set a $560.00 price objective on shares of AppLovin in a research report on Thursday, March 27th. Loop Capital reiterated a "buy" rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. UBS Group dropped their target price on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Benchmark upped their price target on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and an average target price of $415.15.

AppLovin Stock Up 10.1 %

Shares of APP traded up $28.09 during midday trading on Friday, reaching $307.58. The stock had a trading volume of 6,984,084 shares, compared to its average volume of 5,943,996. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company's fifty day simple moving average is $276.82 and its two-hundred day simple moving average is $304.83. The company has a market cap of $104.56 billion, a price-to-earnings ratio of 67.75, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 over the last 90 days. 14.69% of the stock is owned by insiders.

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.