Brucke Financial Inc. Sells 49 Shares of AppLovin Corporation $APP

Brucke Financial Inc. reduced its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 857 shares of the company’s stock after selling 49 shares during the quarter. Brucke Financial Inc.’s holdings in AppLovin were worth $300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of APP. Atala Financial Inc bought a new stake in shares of AppLovin during the 1st quarter worth $26,000. Hilltop National Bank bought a new stake in shares of AppLovin during the 2nd quarter worth $26,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin during the 1st quarter worth $27,000. ORG Wealth Partners LLC bought a new stake in shares of AppLovin during the 1st quarter worth $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of AppLovin during the 1st quarter worth $29,000. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the sale, the chief technology officer owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 26,200 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer directly owned 2,590,054 shares of the company’s stock, valued at $1,140,219,472.42. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,156,788 shares of company stock worth $514,863,333. Corporate insiders own 13.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on APP shares. Piper Sandler upped their price objective on AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Benchmark increased their target price on AppLovin from $525.00 to $640.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Citigroup increased their target price on AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, Scotiabank reiterated an “outperform” rating on shares of AppLovin in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $597.38.

AppLovin Trading Down 5.1%

Shares of APP stock opened at $569.89 on Friday. The stock has a market cap of $192.77 billion, a price-to-earnings ratio of 80.95, a PEG ratio of 3.26 and a beta of 2.53. The stock has a 50-day moving average of $537.64 and a 200-day moving average of $400.57. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 1-year low of $139.40 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business’s quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

AppLovin Company 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.