AppLovin Corporation $APP Shares Purchased by Brookstone Capital Management

Brookstone Capital Management grew its position in AppLovin Corporation (NASDAQ:APP) by 496.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,177 shares of the company’s stock after purchasing an additional 12,634 shares during the quarter. Brookstone Capital Management’s holdings in AppLovin were worth $6,040,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Board of the Pension Protection Fund purchased a new position in AppLovin in the fourth quarter valued at $27,000. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the 4th quarter valued at about $32,000. Finally, Graney & King LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth about $36,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Down 0.5%

Shares of NASDAQ:APP opened at $467.02 on Wednesday. The stock has a market cap of $156.89 billion, a P/E ratio of 40.12, a P/E/G ratio of 0.76 and a beta of 2.45. The firm has a fifty day moving average price of $495.55 and a 200 day moving average price of $514.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 1-year low of $325.58 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm posted $1.67 EPS. AppLovin’s revenue for the quarter was up 58.9% on a year-over-year basis. Sell-side analysts predict that AppLovin Corporation will post 15.86 EPS for the current year.

Analyst Ratings Changes

APP has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. BTIG Research restated a “buy” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Finally, Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Insider Buying and Selling

In other news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 33,042 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the transaction, the chief executive officer directly owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is currently owned by insiders.

AppLovin 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.