Virtus ETF Advisers LLC Cuts Stock Position in AppLovin Co. (NASDAQ:APP)

Virtus ETF Advisers LLC cut its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 39.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,927 shares of the company's stock after selling 4,493 shares during the quarter. AppLovin makes up approximately 0.9% of Virtus ETF Advisers LLC's portfolio, making the stock its 2nd largest holding. Virtus ETF Advisers LLC's holdings in AppLovin were worth $2,243,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter worth $25,000. Riverview Trust Co raised its position in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in shares of AppLovin in the fourth quarter worth $28,000. Finally, Hemington Wealth Management raised its position in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Up 2.9 %

Shares of NASDAQ:APP traded up $8.15 on Monday, reaching $284.98. 6,305,985 shares of the company traded hands, compared to its average volume of 5,886,445. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $96.88 billion, a P/E ratio of 62.77, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The business's 50-day simple moving average is $291.16 and its 200 day simple moving average is $302.14.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on APP. Piper Sandler lowered their price objective on AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Bank of America increased their price objective on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. UBS Group lowered their price objective on AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective on AppLovin from $538.00 to $386.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $414.05.

Insider Buying and Selling

In related 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 value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $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 have sold 306,900 shares of company stock valued at $106,401,841 over the last ninety days. 14.69% of the stock is owned by insiders.

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.