National Pension Service Sells 129,141 Shares of AppLovin Corporation $APP

National Pension Service lessened its holdings in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 15.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 703,285 shares of the company’s stock after selling 129,141 shares during the period. National Pension Service’s holdings in AppLovin were worth $473,887,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of APP. Revolve Wealth Partners LLC bought a new stake in shares of AppLovin during the 4th quarter valued at about $294,000. Bison Wealth LLC purchased a new stake in AppLovin during the fourth quarter valued at about $239,000. Integrated Wealth Concepts LLC raised its position in AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares in the last quarter. NewEdge Advisors LLC raised its position in AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

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Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 2,889 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $488.90, for a total value of $1,412,432.10. Following the completion of the sale, the chief technology officer owned 17,945 shares in the company, valued at approximately $8,773,310.50. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 454,964 shares of company stock worth $213,046,785. 13.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. Scotiabank raised their price target on AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Wells Fargo & Company boosted their target price on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Jefferies Financial Group dropped their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Argus started coverage on AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $664.35.

Read Our Latest Stock Analysis on AppLovin

AppLovin Stock Performance

NASDAQ:APP opened at $599.89 on Friday. The business has a 50 day moving average of $453.17 and a 200 day moving average of $521.05. The company has a market capitalization of $201.53 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 0.92 and a beta of 2.37. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.67 EPS. AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. On average, sell-side analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

AppLovin News Roundup

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

AppLovin Profile

(Free Report)

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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