Braun Stacey Associates Inc. Has $30.02 Million Stock Position in AppLovin Corporation $APP

Braun Stacey Associates Inc. reduced its position in AppLovin Corporation (NASDAQ:APP) by 13.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 75,433 shares of the company’s stock after selling 11,337 shares during the quarter. Braun Stacey Associates Inc.’s holdings in AppLovin were worth $30,022,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. lifted its position in shares of AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after acquiring an additional 18 shares in the last quarter. Verdence Capital Advisors LLC grew its position in AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Claro Advisors LLC grew its position in AppLovin by 3.2% during the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after purchasing an additional 20 shares in the last quarter. Strategic Advocates LLC grew its position in AppLovin by 0.8% during the 3rd 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 stake in AppLovin by 3.2% during the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after purchasing an additional 22 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the completion of the sale, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. This trade represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 389,924 shares of company stock valued at $195,693,875. 13.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on APP shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. UBS Group reduced their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company raised their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $669.62.

AppLovin Stock Up 7.0%

APP stock opened at $477.08 on Friday. The company has a 50 day moving average of $497.00 and a two-hundred day moving average of $510.88. The company has a market cap of $160.27 billion, a price-to-earnings ratio of 40.99, a PEG ratio of 0.78 and a beta of 2.45. AppLovin Corporation has a 12-month low of $325.58 and a 12-month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating 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 business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $1.67 EPS. AppLovin’s revenue was up 58.9% on a year-over-year basis. On average, equities analysts anticipate that AppLovin Corporation will post 15.97 earnings per share for the current fiscal year.

About AppLovin

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.