Vontobel Holding Ltd. Decreases Stake in AppLovin Co. (NASDAQ:APP)

Vontobel Holding Ltd. lowered its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,961 shares of the company's stock after selling 2,217 shares during the quarter. Vontobel Holding Ltd.'s holdings in AppLovin were worth $3,550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC increased its stake in shares of 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 buying an additional 1,029,009 shares during the period. FMR LLC increased its position in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company's stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. State Street Corp increased its position in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after purchasing an additional 428,419 shares during the period. Geode Capital Management LLC increased its position in AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company's stock valued at $514,418,000 after purchasing an additional 449,241 shares during the period. Finally, Fred Alger Management LLC increased its position in AppLovin by 1.3% during the 3rd quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company's stock valued at $462,077,000 after purchasing an additional 46,854 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Activity

In other news, CTO Vasily Shikin sold 593,588 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares of the company's stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares of the company's stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock valued at $267,640,144 in the last ninety days. 14.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

APP has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Benchmark increased their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. BTIG Research increased their price target on AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a report on Thursday, February 13th. Finally, Loop Capital increased their price target on AppLovin from $385.00 to $450.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $430.41.

AppLovin Stock Down 0.4 %

NASDAQ:APP traded down $1.83 during trading hours on Wednesday, hitting $494.17. 5,043,683 shares of the company traded hands, compared to its average volume of 5,072,827. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm's 50-day simple moving average is $361.30 and its 200-day simple moving average is $239.37. AppLovin Co. has a one year low of $54.50 and a one year high of $525.15. The company has a market cap of $165.84 billion, a PE ratio of 108.85, a PEG ratio of 3.84 and a beta of 2.30.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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%. Equities analysts predict that AppLovin Co. will post 6.64 earnings per share for the current 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.