AppLovin Corporation $APP Position Lessened by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. reduced its position in AppLovin Corporation (NASDAQ:APP) by 31.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 86,770 shares of the company’s stock after selling 40,065 shares during the period. AppLovin comprises approximately 1.9% of Braun Stacey Associates Inc.’s holdings, making the stock its 9th biggest holding. Braun Stacey Associates Inc.’s holdings in AppLovin were worth $58,467,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Myriad Asset Management US LP acquired a new position in AppLovin in the fourth quarter valued at $236,000. Signaturefd LLC lifted its position in AppLovin by 9.5% during the fourth quarter. Signaturefd LLC now owns 4,501 shares of the company’s stock worth $3,033,000 after buying an additional 391 shares during the period. Ascent Group LLC boosted its stake in AppLovin by 1.8% in the 4th quarter. Ascent Group LLC now owns 3,173 shares of the company’s stock worth $2,138,000 after buying an additional 57 shares during the last quarter. Savvy Advisors Inc. grew its holdings in AppLovin by 58.6% in the 4th quarter. Savvy Advisors Inc. now owns 1,175 shares of the company’s stock valued at $792,000 after buying an additional 434 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in shares of AppLovin by 1.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 28,104 shares of the company’s stock valued at $18,937,000 after acquiring an additional 273 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $386.37 on Friday. The business’s 50-day simple moving average is $440.12 and its 200 day simple moving average is $562.75. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The company has a market cap of $130.31 billion, a P/E ratio of 39.63, a PEG ratio of 0.67 and a beta of 2.50.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.35. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. On average, sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APP. Wedbush raised their target price on shares of AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of AppLovin in a report on Wednesday, March 11th. BTIG Research lowered their price objective on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Wells Fargo & Company dropped their price objective on AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Finally, Scotiabank lifted their target price on AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $668.20.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at approximately $1,583,462,445.39. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the sale, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is currently owned by corporate insiders.

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.