Brookstone Capital Management Acquires Shares of 895 AppLovin Co. (NASDAQ:APP)

Brookstone Capital Management acquired a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel reports. The fund acquired 895 shares of the company’s stock, valued at approximately $290,000.

Other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC boosted its holdings in AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares during the period. Second Half Financial Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $224,000. State Street Corp lifted its holdings in shares of 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 during the period. Eagle Asset Management Inc. lifted its holdings in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares during the period. Finally, Zacks Investment Management lifted its holdings in shares of AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after acquiring an additional 81,331 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 3.1 %

Shares of NASDAQ APP opened at $342.34 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The firm has a 50 day moving average price of $330.75 and a two-hundred day moving average price of $189.06. The stock has a market cap of $114.89 billion, a P/E ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on APP shares. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Citigroup upped their price target on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Loop Capital increased their price objective on shares of AppLovin from $385.00 to $450.00 and gave the company 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 note on Wednesday, January 8th. Four equities 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $338.06.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last three months. 14.69% of the stock is 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.