AppLovin Corporation $APP Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. lessened its stake in AppLovin Corporation (NASDAQ:APP) by 13.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,433 shares of the company’s stock after selling 11,337 shares during the period. Braun Stacey Associates Inc.’s holdings in AppLovin were worth $30,022,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of APP. Redhawk Wealth Advisors Inc. raised its position in shares of AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after buying an additional 18 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the period. Claro Advisors LLC increased its stake in shares of AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after acquiring an additional 20 shares during the period. Strategic Advocates LLC raised its holdings in AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after purchasing an additional 21 shares in the last quarter. Finally, Finivi Inc. raised its holdings in AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of a number of research analyst reports. Argus initiated coverage on AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. UBS Group lowered their price target on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Insider Buying and Selling at AppLovin

In other news, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the sale, the director directly owned 123,520 shares of the company’s stock, valued at $71,893,580.80. The trade was a 2.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the sale, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is owned by insiders.

AppLovin Stock Up 7.0%

APP stock opened at $477.08 on Friday. AppLovin Corporation has a 12 month low of $325.58 and a 12 month high of $745.61. The firm has a market cap of $160.27 billion, a PE ratio of 40.99, a P/E/G ratio of 0.78 and a beta of 2.45. The firm has a 50 day simple moving average of $497.00 and a 200 day simple moving average of $510.88. 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 (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. Equities research analysts forecast that AppLovin Corporation will post 15.97 earnings per share for the current fiscal year.

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.