Pictet Asset Management Holding SA lowered its stake in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 105,362 shares of the company’s stock after selling 3,122 shares during the period. Pictet Asset Management Holding SA’s holdings in AppLovin were worth $41,934,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Board of the Pension Protection Fund bought a new position in AppLovin during the fourth quarter valued at approximately $27,000. Washington Trust Advisors Inc. grew its position in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in AppLovin in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin during the 4th quarter valued at $32,000. Finally, CENTRAL TRUST Co lifted its holdings in shares of AppLovin by 41.3% during the 1st quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock valued at $35,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on APP shares. JPMorgan Chase & Co. raised their price target on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. KeyCorp set a $775.00 price objective on AppLovin in a research report on Wednesday, June 10th. BTIG Research reissued a “buy” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Finally, Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.27.
Insiders Place Their Bets
In other news, 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 value of $11,158,829.12. Following the transaction, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $582.04, for a total value of $1,790,355.04. Following the completion of the transaction, the director directly owned 123,520 shares in the company, valued at $71,893,580.80. This trade represents a 2.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 389,924 shares of company stock valued at $195,693,875. 13.66% of the stock is currently owned by corporate insiders.
Key Stories Impacting AppLovin
Here are the key news stories impacting AppLovin this week:
- Positive Sentiment: Raymond James initiated coverage on AppLovin with a Strong Buy rating and a $640 price target, implying meaningful upside from recent levels and helping support the stock. Benzinga reference
- Positive Sentiment: AppLovin opened its self-serve advertising platform to all advertisers, a move that could broaden adoption of its AI-driven ad tools and strengthen future revenue growth. PocketGamer.biz article
- Positive Sentiment: Several recent articles highlighted broadly constructive Wall Street sentiment toward AppLovin’s AI ad platform, reinforcing the bullish view that earnings and fundamentals remain strong. Yahoo Finance article
- Neutral Sentiment: AppLovin was also mentioned in a roundup of stocks making big moves, reflecting elevated trader attention but offering little new company-specific detail. Yahoo Finance roundup
- Negative Sentiment: Investors also noted that AppLovin’s CEO sold about $51 million of discretionary shares, which may raise questions about insider confidence even though insider selling does not necessarily reflect the business outlook. MarketBeat article
AppLovin Trading Up 3.3%
Shares of AppLovin stock opened at $515.23 on Wednesday. AppLovin Corporation has a 1-year low of $325.58 and a 1-year high of $745.61. The company’s fifty day simple moving average is $498.42 and its 200-day simple moving average is $506.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market capitalization of $173.09 billion, a PE ratio of 44.26, a P/E/G ratio of 0.81 and a beta of 2.45.
AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $1.67 EPS. AppLovin’s revenue was up 58.9% on a year-over-year basis. As a group, equities analysts anticipate that AppLovin Corporation will post 15.97 earnings per share for the current year.
AppLovin Company 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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