Brooklyn Investment Group lowered its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 35.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,608 shares of the company's stock after selling 876 shares during the period. Brooklyn Investment Group's holdings in AppLovin were worth $521,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of APP. Capital Performance Advisors LLP bought a new position in AppLovin in the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the third quarter worth approximately $27,000. DT Investment Partners LLC bought a new position in AppLovin during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter valued at $29,000. Finally, HM Payson & Co. increased its position in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company's stock valued at $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on APP shares. Daiwa Capital Markets raised AppLovin from a "neutral" rating to an "outperform" rating and raised their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Daiwa America raised shares of AppLovin from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. BTIG Research lifted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Loop Capital increased their target price on shares of AppLovin from $385.00 to $450.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, Bank of America lifted their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $338.06.
Check Out Our Latest Stock Analysis on APP
Insider Buying and Selling at AppLovin
In other news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares of the company's stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 99,000 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now owns 621,209 shares of the company's stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 over the last ninety days. 14.69% of the stock is currently owned by insiders.
AppLovin Stock Up 3.1 %
Shares of NASDAQ APP traded up $10.33 during mid-day trading on Friday, reaching $342.34. The company had a trading volume of 4,173,415 shares, compared to its average volume of 3,899,418. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The stock's 50 day moving average is $330.75 and its 200-day moving average is $189.06. The stock has a market capitalization of $114.89 billion, a PE ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29.
AppLovin (NASDAQ:APP - Get Free Report) last posted 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business's quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. As a group, equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.
About AppLovin
(
Free Report)
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.
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