Vinva Investment Management Ltd Has $11.57 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Vinva Investment Management Ltd trimmed its position in AppLovin Co. (NASDAQ:APP) by 59.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,509 shares of the company’s stock after selling 50,742 shares during the quarter. Vinva Investment Management Ltd’s holdings in AppLovin were worth $11,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the 4th quarter worth about $25,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth about $27,000. Riverview Trust Co grew its position in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the period. Hemington Wealth Management grew its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 322,871 shares of company stock valued at $111,401,882 over the last ninety days. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Performance

APP opened at $278.84 on Wednesday. The firm has a market cap of $94.79 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s fifty day moving average is $355.01 and its 200-day moving average is $272.03.

AppLovin (NASDAQ:APP) last released 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%. Sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup boosted their price objective on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Macquarie boosted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. Finally, Piper Sandler upped their price target on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $438.28.

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.