Brookstone Capital Management Invests $290,000 in AppLovin Co. (NASDAQ:APP)

Brookstone Capital Management bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 895 shares of the company's stock, valued at approximately $290,000.

A number of other hedge funds have also recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter valued at about $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in AppLovin in the 2nd quarter valued at $34,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 3.1 %

Shares of APP traded up $10.33 during trading hours on Friday, hitting $342.34. 4,173,415 shares of the stock were exchanged, compared to its average volume of 3,899,418. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The business has a 50-day moving average of $330.75 and a 200-day moving average of $189.06. The firm has a market capitalization of $114.89 billion, a P/E ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. 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 announced its 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. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The firm's revenue for the quarter was up 38.6% compared to the same quarter last year. On average, research analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on APP shares. Benchmark initiated coverage on AppLovin in a research note on Friday, January 10th. They set a "buy" rating and a $375.00 target price on the stock. Citigroup boosted their target price on shares of AppLovin from $335.00 to $460.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Wedbush reaffirmed an "outperform" rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Oppenheimer reissued an "outperform" rating and issued a $480.00 price objective on shares of AppLovin in a report on Tuesday, December 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Thursday, November 7th. Four equities research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $338.06.

Insider Activity at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the transaction, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last three months. Corporate insiders own 14.69% of the company's stock.

AppLovin Profile

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.