Brooklyn Investment Group Decreases Holdings in AppLovin Co. (NASDAQ:APP)

Brooklyn Investment Group reduced its stake in AppLovin Co. (NASDAQ:APP) by 35.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,608 shares of the company’s stock after selling 876 shares during the quarter. Brooklyn Investment Group’s holdings in AppLovin were worth $521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the 3rd quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in AppLovin during the 3rd quarter worth $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at about $29,000. Finally, Quest Partners LLC bought a new position in shares of AppLovin during the second quarter worth about $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on APP. Stifel Nicolaus boosted their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. 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 note on Thursday, December 5th. BTIG Research boosted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $338.06.

AppLovin Price Performance

Shares of AppLovin stock opened at $342.34 on Friday. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap 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 firm’s 50-day simple moving average is $330.75 and its 200-day simple moving average is $188.33.

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

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.