Braun Stacey Associates Inc. Trims Position in AppLovin Corporation $APP

Braun Stacey Associates Inc. reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 31.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 position. Braun Stacey Associates Inc.’s holdings in AppLovin were worth $58,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of APP. Myriad Asset Management US LP bought a new position in shares of AppLovin during the fourth quarter worth about $236,000. Signaturefd LLC grew its stake in AppLovin by 9.5% in the fourth quarter. Signaturefd LLC now owns 4,501 shares of the company’s stock worth $3,033,000 after purchasing an additional 391 shares in the last quarter. Ascent Group LLC increased its holdings in AppLovin by 1.8% in the fourth quarter. Ascent Group LLC now owns 3,173 shares of the company’s stock valued at $2,138,000 after buying an additional 57 shares during the last quarter. Savvy Advisors Inc. raised its stake in AppLovin by 58.6% during the fourth quarter. Savvy Advisors Inc. now owns 1,175 shares of the company’s stock valued at $792,000 after buying an additional 434 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in AppLovin by 1.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 28,104 shares of the company’s stock valued at $18,937,000 after buying an additional 273 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $386.37 on Friday. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The company has a market cap of $130.31 billion, a price-to-earnings ratio of 39.63, a price-to-earnings-growth ratio of 0.67 and a beta of 2.50. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock’s 50 day simple moving average is $440.12 and its 200 day simple moving average is $562.75.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $1.73 EPS. The firm’s revenue was up 66.0% on a year-over-year basis. Equities research analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on APP shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Piper Sandler reissued an “overweight” rating and set a $650.00 price target (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Arete Research set a $340.00 price objective on AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings lowered shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Finally, Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $668.20.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 365,244 shares of company stock worth $169,584,607. Insiders own 13.66% of the company’s stock.

AppLovin Company Profile

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.