AppLovin Corporation (NASDAQ:APP) Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. trimmed its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 25.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 137,735 shares of the company's stock after selling 47,135 shares during the period. AppLovin makes up about 1.5% of Braun Stacey Associates Inc.'s holdings, making the stock its 14th largest holding. Braun Stacey Associates Inc.'s holdings in AppLovin were worth $36,496,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC boosted its position in shares of AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of AppLovin by 62.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after buying an additional 66,453 shares during the period. Yousif Capital Management LLC boosted its position in shares of AppLovin by 3.5% during the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after buying an additional 119 shares during the period. Peak Retirement Planning Inc. purchased a new position in shares of AppLovin during the fourth quarter worth $969,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of AppLovin by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after buying an additional 121 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Scotiabank assumed coverage on AppLovin in a report on Monday. They issued an "outperform" rating and a $430.00 target price for the company. JPMorgan Chase & Co. lifted their target price on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. HSBC set a $436.00 target price on AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. Citigroup reiterated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Finally, Jefferies Financial Group lifted their target price on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.43.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the transaction, the director owned 3,451 shares in the company, valued at $1,450,455.30. The trade was a 12.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Herald Y. Chen sold 100,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $419.91, for a total value of $41,991,000.00. Following the completion of the transaction, the director owned 181,929 shares in the company, valued at $76,393,806.39. This trade represents a 35.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is owned by insiders.

AppLovin Stock Performance

Shares of APP traded up $3.36 during midday trading on Monday, reaching $345.00. 3,155,375 shares of the stock were exchanged, compared to its average volume of 6,210,145. The business's 50-day moving average price is $353.55 and its 200 day moving average price is $334.17. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a market capitalization of $116.74 billion, a price-to-earnings ratio of 62.27, a PEG ratio of 2.04 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business's revenue was up 40.3% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

About AppLovin

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.