Brighton Jones LLC Has $16.28 Million Holdings in AppLovin Co. (NASDAQ:APP)

Brighton Jones LLC lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 22.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,631 shares of the company’s stock after selling 55,492 shares during the period. Brighton Jones LLC owned approximately 0.06% of AppLovin worth $16,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new position in shares of AppLovin during the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in AppLovin during the 2nd quarter valued at about $37,000. Summit Securities Group LLC bought a new position in AppLovin during the 2nd quarter valued at about $42,000. Covestor Ltd lifted its stake in shares of AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the period. Finally, Atlas Capital Advisors LLC bought a new position in shares of AppLovin in the 1st quarter worth approximately $38,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on APP shares. Bank of America raised their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Wedbush cut their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Citigroup lifted their target price on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.09.

AppLovin Trading Up 0.7 %

Shares of NASDAQ:APP opened at $124.00 on Friday. AppLovin Co. has a 1 year low of $34.45 and a 1 year high of $128.19. The firm has a market capitalization of $40.80 billion, a price-to-earnings ratio of 73.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The business’s 50 day moving average price is $86.26 and its 200-day moving average price is $79.52.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS. On average, equities research analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 118,839 shares of AppLovin stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the transaction, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Eduardo Vivas sold 118,839 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the transaction, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares in the company, valued at approximately $20,262,490.54. The disclosure for this sale can be found here. Insiders sold a total of 775,934 shares of company stock valued at $65,805,022 in the last three months. 14.69% of the stock is owned by corporate insiders.

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.