Metis Global Partners LLC Purchases New Position in AppLovin Co. (NASDAQ:APP)

Metis Global Partners LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,609 shares of the company’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. HM Payson & Co. lifted its position in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in shares of AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares in the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after buying an additional 121 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares in the last quarter. Finally, American Trust increased its position in shares of AppLovin by 2.8% during the first quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after acquiring an additional 150 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This represents a 3.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,542 shares of company stock worth $32,012,275. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Up 2.4 %

Shares of AppLovin stock opened at $298.00 on Tuesday. The company’s 50-day moving average price is $163.37 and its 200-day moving average price is $110.70. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $302.55. The company has a market cap of $100.01 billion, a price-to-earnings ratio of 90.30, a PEG ratio of 3.58 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, equities analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on APP. JPMorgan Chase & Co. boosted their price objective on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and raised their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Oppenheimer lifted their price target on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price objective on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $203.13.

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.