Brooklyn Investment Group Invests $324,000 in AppLovin Co. (NASDAQ:APP)

Brooklyn Investment Group purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,484 shares of the company’s stock, valued at approximately $324,000.

Several other institutional investors have also added to or reduced their stakes in APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the 3rd quarter worth approximately $29,000. Finally, HM Payson & Co. lifted its stake in AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now directly owns 213,336 shares in the company, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 854,065 shares of company stock valued at $233,072,408 in the last three months. 14.69% of the stock is currently owned by insiders.

AppLovin Stock Up 3.2 %

Shares of NASDAQ APP opened at $329.77 on Wednesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a 50-day moving average price of $185.37 and a 200-day moving average price of $119.37. The stock has a market capitalization of $110.67 billion, a P/E ratio of 99.93, a P/E/G ratio of 4.11 and a beta of 1.86. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $344.77.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 122.24% and a net margin of 26.85%. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. On average, equities research analysts forecast that AppLovin Co. will post 4.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on APP shares. BTIG Research lifted their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Macquarie upped their price target on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Citigroup increased their price objective on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

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.