AppLovin Co. (NASDAQ:APP) is Braun Stacey Associates Inc.’s 7th Largest Position

Braun Stacey Associates Inc. cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 33.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 184,870 shares of the company’s stock after selling 92,631 shares during the quarter. AppLovin accounts for 2.2% of Braun Stacey Associates Inc.’s investment portfolio, making the stock its 7th largest position. Braun Stacey Associates Inc. owned approximately 0.06% of AppLovin worth $59,866,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in APP. Creative Planning raised its holdings in shares of AppLovin by 251.2% in the 3rd quarter. Creative Planning now owns 144,883 shares of the company’s stock valued at $18,914,000 after purchasing an additional 103,628 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of AppLovin by 87.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 9,648 shares of the company’s stock valued at $1,260,000 after purchasing an additional 4,503 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in AppLovin by 27.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,757 shares of the company’s stock worth $2,579,000 after acquiring an additional 4,287 shares in the last quarter. Blue Trust Inc. raised its stake in AppLovin by 26.3% during the 3rd quarter. Blue Trust Inc. now owns 4,356 shares of the company’s stock worth $569,000 after acquiring an additional 906 shares in the last quarter. Finally, Veracity Capital LLC acquired a new stake in AppLovin during the 3rd quarter worth $232,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APP shares. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Piper Sandler lifted their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Four 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. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $422.18.

AppLovin Stock Performance

Shares of APP opened at $510.13 on Tuesday. The company has a 50-day moving average of $354.68 and a two-hundred day moving average of $234.57. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $171.20 billion, a P/E ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 12-month low of $52.75 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. As a group, research analysts predict that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 828,991 shares of company stock worth $267,640,144. 14.69% of the stock is owned by company insiders.

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.