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

Brooklyn Investment Group cut its position in shares of AppLovin Co. (NASDAQ:APP) by 35.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,608 shares of the company’s stock after selling 876 shares during the period. Brooklyn Investment Group’s holdings in AppLovin were worth $521,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. WCM Investment Management LLC lifted its position in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. FMR LLC lifted its holdings in shares of AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Lone Pine Capital LLC boosted its position in shares of AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after buying an additional 382,767 shares during the period. State Street Corp lifted its stake in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after acquiring an additional 449,241 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 over the last ninety days. 14.69% of the stock is currently owned by insiders.

AppLovin Stock Performance

Shares of APP stock opened at $342.34 on Friday. 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 12-month low of $40.71 and a 12-month high of $417.64. The company has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. The stock has a 50 day simple moving average of $330.75 and a 200-day simple moving average of $188.33.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. On average, equities analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on APP shares. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Wells Fargo & Company upped their target price on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Loop Capital lifted their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $338.06.

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.