Swiss Life Asset Management Ltd raised its stake in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 29.6% during the second quarter, HoldingsChannel reports. The firm owned 104,608 shares of the company’s stock after buying an additional 23,899 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in AppLovin were worth $53,897,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Washington Trust Advisors Inc. increased its position in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in AppLovin in the fourth quarter worth $27,000. Laurel Wealth Advisors LLC bought a new stake in AppLovin in the fourth quarter worth $32,000. Osbon Capital Management LLC bought a new stake in AppLovin in the fourth quarter worth $36,000. Finally, Dogwood Wealth Management LLC boosted its stake in AppLovin by 84.4% during the fourth quarter. Dogwood Wealth Management LLC now owns 59 shares of the company’s stock worth $40,000 after buying an additional 27 shares during the period. 41.85% of the stock is owned by institutional investors.
Insider Buying and Selling
In other AppLovin news, CEO Arash Adam Foroughi sold 33,042 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the transaction, the chief executive officer directly owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This represents a 1.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 393,000 shares of company stock worth $197,297,363 over the last ninety days. 12.81% of the stock is owned by insiders.
Analysts Set New Price Targets
Read Our Latest Research Report on AppLovin
AppLovin News Roundup
Here are the key news stories impacting AppLovin this week:
- Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
- Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
- Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
- Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
- Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings
AppLovin Stock Performance
APP stock opened at $315.44 on Friday. AppLovin Corporation has a twelve month low of $303.17 and a twelve month high of $745.61. The firm has a market cap of $105.56 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 0.63 and a beta of 2.54. The business’s fifty day simple moving average is $447.84 and its two-hundred day simple moving average is $456.06. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11.
AppLovin (NASDAQ:APP – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.76. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The business’s revenue was up 52.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.39 earnings per share. Analysts predict that AppLovin Corporation will post 15.57 earnings per share for the current year.
About AppLovin
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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