Storgate LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,508 shares of the company’s stock, valued at approximately $2,364,000. AppLovin accounts for approximately 1.9% of Storgate LLC’s holdings, making the stock its 4th biggest holding.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in AppLovin by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after buying an additional 166,117 shares during the period. State Street Corp increased its stake in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares during the period. Geode Capital Management LLC increased its stake in AppLovin by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after buying an additional 448,005 shares during the period. Invesco Ltd. increased its stake in AppLovin by 9.4% in the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock valued at $3,084,514,000 after buying an additional 367,083 shares during the period. Finally, Kensico Capital Management Corp grew its stake in shares of AppLovin by 3.1% during the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock worth $2,240,767,000 after purchasing an additional 95,000 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.
Insider Activity at AppLovin
In other AppLovin news, CTO Vasily Shikin sold 8,112 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $483.67, for a total transaction of $3,923,531.04. Following the sale, the chief technology officer directly owned 18,805 shares of the company’s stock, valued at $9,095,414.35. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer directly owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 389,924 shares of company stock worth $187,404,946 over the last three months. Company insiders own 13.66% of the company’s stock.
Analyst Ratings Changes
View Our Latest Analysis on AppLovin
Key Stories Impacting AppLovin
Here are the key news stories impacting AppLovin this week:
- Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
- Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
- Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article
AppLovin Price Performance
Shares of NASDAQ APP opened at $496.77 on Friday. The stock has a market cap of $166.88 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 0.78 and a beta of 2.45. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The company’s 50-day moving average price is $482.88 and its 200 day moving average price is $520.84. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.
AppLovin (NASDAQ:APP – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm’s revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.67 EPS. As a group, research analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.
AppLovin Profile
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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