Braun Stacey Associates Inc. Boosts Position in AppLovin Co. (NASDAQ:APP)

Braun Stacey Associates Inc. lifted its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 277,501 shares of the company's stock after acquiring an additional 11,121 shares during the quarter. AppLovin accounts for about 1.4% of Braun Stacey Associates Inc.'s investment portfolio, making the stock its 13th largest holding. Braun Stacey Associates Inc. owned 0.08% of AppLovin worth $36,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in APP. Mitsubishi UFJ Trust & Banking Corp grew its position in AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company's stock valued at $17,336,000 after buying an additional 248,022 shares during the period. WCM Investment Management LLC lifted its holdings in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in AppLovin by 10.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company's stock valued at $3,440,000 after purchasing an additional 2,385 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of AppLovin by 2,081.4% in the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company's stock worth $1,127,000 after buying an additional 15,590 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE purchased a new position in shares of AppLovin in the third quarter worth $7,086,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 1.8 %

Shares of APP stock traded up $5.26 during mid-day trading on Monday, hitting $296.35. 3,260,414 shares of the stock traded hands, compared to its average volume of 4,396,836. The stock has a market cap of $99.45 billion, a P/E ratio of 88.21, a P/E/G ratio of 3.58 and a beta of 1.86. The stock's fifty day moving average is $159.14 and its two-hundred 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 debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company's quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. Equities analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APP shares. Wells Fargo & Company started coverage on shares of AppLovin in a research note on Monday, October 28th. They set an "overweight" rating and a $200.00 price target on the stock. Jefferies Financial Group upped their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Wedbush reaffirmed an "outperform" rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Daiwa America raised shares of AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Finally, Citigroup boosted their price objective on shares of AppLovin from $155.00 to $185.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $194.31.

Insider Transactions at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company's stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,542 shares of company stock valued at $32,012,275 in the last 90 days. 14.69% of the stock is currently owned by company insiders.

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.