Signature Estate & Investment Advisors LLC raised its holdings in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 3,695.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,361 shares of the company’s stock after acquiring an additional 74,349 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in AppLovin were worth $39,345,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. State Street Corp grew its position in shares of AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares during the last quarter. Corient Private Wealth LLC grew its holdings in AppLovin by 3,118.6% during the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock valued at $2,826,049,000 after buying an additional 4,063,763 shares during the last quarter. Norges Bank acquired a new stake in AppLovin during the 4th quarter valued at $2,040,321,000. Northern Trust Corp increased its position in AppLovin by 46.8% during the third quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after buying an additional 756,660 shares in the last quarter. Finally, Amundi increased its position in AppLovin by 81.3% during the fourth quarter. Amundi now owns 1,426,896 shares of the company’s stock worth $961,471,000 after buying an additional 639,836 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on APP. Needham & Company LLC reduced their price objective on AppLovin from $700.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Phillip Securities upgraded AppLovin from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday. Morgan Stanley cut their target price on shares of AppLovin from $720.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Wells Fargo & Company restated an “equal weight” rating and issued a $357.00 target price (down from $575.00) on shares of AppLovin in a report on Thursday, August 6th. Finally, Piper Sandler cut shares of AppLovin from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $665.00 to $385.00 in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $565.91.
Key Headlines Impacting AppLovin
Here are the key news stories impacting AppLovin this week:
- Positive Sentiment: AppLovin expects revenue growth to reaccelerate sequentially in the third quarter while maintaining an approximately 83% margin, even as it invests in additional AI computing capacity. The guidance supports the view that recent weakness may be temporary. AppLovin Q3 Guidance Signals Reacceleration After a Mixed Q2 Print
- Positive Sentiment: Phillip Securities upgraded APP from “moderate buy” to “strong buy.” BTIG also maintained a buy rating and set a $408 price target, implying substantial upside despite lowering its previous target of $574. BTIG AppLovin Price Target
- Positive Sentiment: Several investment commentaries characterize AppLovin as an attractive value opportunity after its steep decline, citing rapid revenue growth, high margins and strong earnings potential relative to valuation. AppLovin Won’t Be This Cheap for Long
Insider Transactions at AppLovin
In other news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the transaction, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 393,000 shares of company stock worth $197,297,363 in the last quarter. 12.81% of the stock is currently owned by corporate insiders.
AppLovin Price Performance
APP stock opened at $303.76 on Thursday. AppLovin Corporation has a 52-week low of $303.17 and a 52-week high of $745.61. The stock’s fifty day simple moving average is $457.60 and its 200-day simple moving average is $458.54. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $102.05 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54.
AppLovin (NASDAQ:APP – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 EPS for the quarter, meeting analysts’ consensus estimates of $3.76. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The business’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.39 earnings per share. Equities research analysts expect that AppLovin Corporation will post 15.57 EPS for the current 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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