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

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

Several other large investors have also recently made changes to their positions in the business. Jefferies Financial Group Inc. bought a new position in shares of AppLovin during the 4th quarter valued at approximately $470,000. Heck Capital Advisors LLC purchased a new position in shares of AppLovin in the fourth quarter valued at about $658,000. Integrated Advisors Network LLC purchased a new position in AppLovin in the 4th quarter worth approximately $285,000. Ascent Group LLC boosted its stake in AppLovin by 34.2% in the 4th quarter. Ascent Group LLC now owns 5,553 shares of the company's stock worth $1,798,000 after purchasing an additional 1,416 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of AppLovin by 235.9% during the fourth quarter. Mackenzie Financial Corp now owns 30,499 shares of the company's stock valued at $9,876,000 after buying an additional 21,419 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. FBN Securities started coverage on shares of AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price on the stock. Citigroup lifted their price target on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group upped their price objective on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $433.85.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 33,700 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total value of $12,318,698.00. Following the completion of the sale, the chief executive officer now owns 2,760,363 shares in the company, valued at $1,009,023,091.02. This represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. This represents a 16.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,233,254 shares of company stock worth $446,927,149. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Up 7.5%

NASDAQ:APP traded up $26.62 during trading hours on Tuesday, hitting $380.91. The stock had a trading volume of 7,674,411 shares, compared to its average volume of 6,062,350. The company has a market cap of $128.89 billion, a PE ratio of 83.90, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The business has a 50 day simple moving average of $293.78 and a two-hundred day simple moving average of $326.23. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

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