Brookstone Capital Management Has $1.60 Million Holdings in AppLovin Corporation $APP

Brookstone Capital Management grew its holdings in AppLovin Corporation (NASDAQ:APP) by 80.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,227 shares of the company’s stock after buying an additional 993 shares during the period. Brookstone Capital Management’s holdings in AppLovin were worth $1,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in AppLovin by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock valued at $6,267,410,000 after acquiring an additional 72,120 shares during the period. State Street Corp boosted its position in AppLovin by 2.4% during the second quarter. State Street Corp now owns 5,615,415 shares of the company’s stock worth $1,965,844,000 after purchasing an additional 133,402 shares during the period. Kensico Capital Management Corp increased its holdings in shares of AppLovin by 12.9% in the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock valued at $762,849,000 after purchasing an additional 328,000 shares during the last quarter. Fred Alger Management LLC raised its position in shares of AppLovin by 12.0% in the first quarter. Fred Alger Management LLC now owns 2,833,792 shares of the company’s stock valued at $750,870,000 after purchasing an additional 303,063 shares during the period. Finally, Norges Bank bought a new position in shares of AppLovin in the second quarter valued at about $951,541,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Down 1.8%

Shares of NASDAQ:APP opened at $714.23 on Monday. The business’s 50 day simple moving average is $629.93 and its 200 day simple moving average is $524.28. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The company has a market capitalization of $241.37 billion, a P/E ratio of 86.68, a P/E/G ratio of 3.83 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.11. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 EPS. On average, research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the sale, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eduardo Vivas sold 150,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the sale, the director owned 7,133,292 shares in the company, valued at $4,643,131,095.72. The trade was a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 340,336 shares of company stock valued at $200,062,623 over the last quarter. 13.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APP. The Goldman Sachs Group lifted their target price on shares of AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppLovin in a research report on Monday, December 22nd. BTIG Research reissued a “buy” rating and set a $771.00 price target on shares of AppLovin in a report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. boosted their price target on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Nineteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $695.90.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.