AppLovin Corporation $APP Stock Position Cut by Braun Stacey Associates Inc.

Key Points

• Braun Stacey Associates reduced its stake in AppLovin by 5.9%, selling 8,011 shares to hold 126,835 shares worth about $91.1 million, making APP its fifth-largest position (3.0% of holdings).
• Company insiders have sold heavily recently — including CEO Arash Foroughi (4,069 shares) and Victoria Valenzuela (7,609 shares) — with insiders offloading a total of 340,336 shares worth ~$200.1 million in the last three months (insiders now own 13.66%).
• AppLovin posted a strong quarter (EPS $2.45 vs. $2.34 expected; revenue $1.41B vs. $1.34B expected, +68% YoY), and analysts maintain a generally positive view with a consensus rating of Moderate Buy and a $695.90 average price target.

Braun Stacey Associates Inc. lessened its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,835 shares of the company's stock after selling 8,011 shares during the quarter. AppLovin makes up 3.0% of Braun Stacey Associates Inc.'s holdings, making the stock its 5th biggest position. Braun Stacey Associates Inc.'s holdings in AppLovin were worth $91,136,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Optas LLC grew its position in shares of AppLovin by 2.5% during the 3rd quarter. Optas LLC now owns 877 shares of the company's stock valued at $630,000 after acquiring an additional 21 shares during the period. Bartlett & CO. Wealth Management LLC boosted its position in AppLovin by 19.6% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company's stock worth $96,000 after purchasing an additional 22 shares in the last quarter. Avestar Capital LLC boosted its position in AppLovin by 2.1% during the second quarter. Avestar Capital LLC now owns 1,117 shares of the company's stock worth $391,000 after purchasing an additional 23 shares in the last quarter. Calamos Wealth Management LLC grew its holdings in AppLovin by 0.3% in the third quarter. Calamos Wealth Management LLC now owns 8,811 shares of the company's stock valued at $6,331,000 after purchasing an additional 27 shares during the period. Finally, RWA Wealth Partners LLC increased its position in shares of AppLovin by 0.4% in the second quarter. RWA Wealth Partners LLC now owns 7,680 shares of the company's stock valued at $2,689,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 4,069 shares of the company's stock in a transaction on Friday, November 21st. The stock was sold at an average price of $497.50, for a total value of $2,024,327.50. Following the completion of the sale, the chief executive officer directly owned 2,998,948 shares in the company, valued at $1,491,976,630. This represents a 0.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the firm's stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares of the company's stock, valued at $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 340,336 shares of company stock worth $200,062,623 in the last three months. Company insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APP. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AppLovin in a research note on Monday. Phillip Securities upgraded shares of AppLovin to a "moderate buy" rating in a research report on Monday, September 29th. Citigroup dropped their target price on shares of AppLovin from $850.00 to $820.00 and set a "buy" rating on the stock in a research report on Wednesday, November 12th. Morgan Stanley boosted their target price on shares of AppLovin from $480.00 to $750.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Finally, UBS Group reaffirmed a "buy" rating and issued a $775.00 price target on shares of AppLovin in a research note on Thursday, December 11th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $695.90.

AppLovin Price Performance

Shares of NASDAQ APP opened at $673.82 on Friday. The firm has a 50-day simple moving average of $639.27 and a 200-day simple moving average of $530.85. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $227.72 billion, a price-to-earnings ratio of 81.77, a price-to-earnings-growth ratio of 3.62 and a beta of 2.50. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the company earned $1.29 EPS. AppLovin's revenue was up 68.2% compared to the same quarter last year. On average, equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin Company Profile

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.

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