Brucke Financial Inc. Acquires New Shares in AppLovin Co. (NASDAQ:APP)

Brucke Financial Inc. bought a new stake in AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 813 shares of the company's stock, valued at approximately $263,000.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its stake in AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new position in AppLovin during the 4th quarter valued at about $1,781,922,000. Geode Capital Management LLC boosted its position in shares of AppLovin by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after purchasing an additional 573,310 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after buying an additional 4,010,520 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of AppLovin by 68.0% in the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after buying an additional 1,222,074 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Down 1.2%

APP traded down $4.78 during trading on Thursday, reaching $385.48. The company had a trading volume of 3,681,873 shares, compared to its average volume of 6,055,602. 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 Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The business's fifty day moving average price is $296.79 and its 200 day moving average price is $327.05. The company has a market cap of $130.44 billion, a P/E ratio of 84.91, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin's revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. Equities analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. The Goldman Sachs Group lifted their price target on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wells Fargo & Company lifted their price target on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. UBS Group lifted their price target on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley lifted their price target on AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a research 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 given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $433.85.

Insider Transactions at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares of the company's stock, valued at $201,675,501.85. The trade was a 24.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dawson Alyssa Harvey sold 570 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $371.12, for a total value of $211,538.40. Following the transaction, the director now directly owns 6,231 shares of the company's stock, valued at $2,312,448.72. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,315,754 shares of company stock valued at $476,095,970 in the last quarter. 14.69% of the stock is currently owned by company insiders.

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.