IFM Investors Pty Ltd lifted its position in AppLovin Corporation (NASDAQ:APP – Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,919 shares of the company’s stock after acquiring an additional 1,606 shares during the quarter. IFM Investors Pty Ltd’s holdings in AppLovin were worth $18,674,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in shares of AppLovin by 131.7% in the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock worth $4,347,000 after buying an additional 3,438 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of AppLovin during the 3rd quarter worth approximately $4,958,000. Franklin Resources Inc. lifted its position in AppLovin by 24.9% during the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock valued at $1,754,996,000 after acquiring an additional 487,492 shares during the last quarter. Generate Investment Management Ltd purchased a new stake in AppLovin during the fourth quarter valued at approximately $2,347,000. Finally, Kinetic Partners Management LP boosted its stake in AppLovin by 7.5% in the third quarter. Kinetic Partners Management LP now owns 128,106 shares of the company’s stock valued at $92,049,000 after acquiring an additional 8,930 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at AppLovin
In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the sale, the director owned 123,520 shares of the company’s stock, valued at approximately $71,893,580.80. The trade was a 2.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 389,924 shares of company stock worth $195,693,875 in the last quarter. 13.66% of the stock is owned by insiders.
Key Stories Impacting AppLovin
- 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%
NASDAQ APP opened at $515.23 on Wednesday. AppLovin Corporation has a 12-month low of $325.58 and a 12-month high of $745.61. The company has a fifty day simple moving average of $498.42 and a two-hundred day simple moving average of $506.70. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $173.09 billion, a P/E 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 announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. On average, analysts forecast that AppLovin Corporation will post 15.97 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on APP. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. KeyCorp set a $775.00 target price on AppLovin in a research note on Wednesday, June 10th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. Finally, Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $668.27.
Get Our Latest Research Report on APP
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.
Read More
- Five stocks we like better than AppLovin
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
- Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs Proof
- AI Fears Hit Nebius Stock, But Has the Growth Thesis Changed?
Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP – Free Report).
Receive News & Ratings for AppLovin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppLovin and related companies with MarketBeat.com's FREE daily email newsletter.
