Braun Stacey Associates Inc. Purchases 11,121 Shares of AppLovin Co. (NASDAQ:APP)

Braun Stacey Associates Inc. lifted its position in shares of AppLovin Co. (NASDAQ:APP) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,501 shares of the company’s stock after acquiring an additional 11,121 shares during the period. AppLovin makes up approximately 1.4% of Braun Stacey Associates Inc.’s portfolio, making the stock its 13th largest position. Braun Stacey Associates Inc. owned approximately 0.08% of AppLovin worth $36,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in AppLovin in the 3rd quarter valued at $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter worth about $29,000. Quest Partners LLC bought a new stake in shares of AppLovin in the 2nd quarter worth about $33,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of AppLovin in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is owned by corporate insiders.

AppLovin Trading Up 2.3 %

APP opened at $291.09 on Monday. The firm has a market capitalization of $97.69 billion, a P/E ratio of 88.21, a P/E/G ratio of 3.58 and a beta of 1.86. The firm’s 50 day moving average is $159.14 and its 200-day moving average is $109.11. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $302.55. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly 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 during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. Analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APP shares. Wells Fargo & Company initiated coverage on shares of AppLovin in a report on Monday, October 28th. They issued an “overweight” rating and a $200.00 target price on the stock. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Citigroup lifted their price target on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus lifted their price target on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $194.31.

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.