Flagship Harbor Advisors LLC Purchases 4,770 Shares of AppLovin Corporation $APP

Flagship Harbor Advisors LLC purchased a new position in AppLovin Corporation (NASDAQ:APP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,770 shares of the company’s stock, valued at approximately $1,385,000.

A number of other institutional investors have also made changes to their positions in the stock. Revolve Wealth Partners LLC increased its holdings in AppLovin by 2.8% in the second quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock valued at $438,000 after purchasing an additional 23 shares during the last quarter. IMA Advisory Services Inc. lifted its stake in AppLovin by 40.0% in the first quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock valued at $33,000 after buying an additional 24 shares during the period. PFG Investments LLC boosted its holdings in AppLovin by 4.1% during the first quarter. PFG Investments LLC now owns 706 shares of the company’s stock worth $281,000 after buying an additional 28 shares during the last quarter. Sovran Advisors LLC boosted its holdings in AppLovin by 5.7% during the first quarter. Sovran Advisors LLC now owns 517 shares of the company’s stock worth $206,000 after buying an additional 28 shares during the last quarter. Finally, PCB Capital LLC boosted its holdings in AppLovin by 1.3% during the first quarter. PCB Capital LLC now owns 2,261 shares of the company’s stock worth $900,000 after buying an additional 30 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Trading Down 1.1%

NASDAQ APP opened at $259.97 on Thursday. AppLovin Corporation has a one year low of $255.46 and a one year high of $738.01. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30. The firm has a market cap of $87.00 billion, a P/E ratio of 19.98, a P/E/G ratio of 0.54 and a beta of 2.56. The stock’s 50-day moving average is $296.92 and its 200-day moving average is $421.69.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $2.39 EPS. AppLovin’s quarterly revenue was up 52.8% compared to the same quarter last year. Sell-side analysts anticipate that AppLovin Corporation will post 15.67 earnings per share for the current fiscal year.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: RBC remains bullish despite a lower target. Royal Bank of Canada cut its price target from $575 to $500 but maintained an “Outperform” rating. The revised target still implies roughly 92% upside from recent levels, suggesting the bank views the selloff as excessive if AppLovin’s fundamentals stabilize. RBC Cut Its AppLovin Target to $500
• Neutral Sentiment: Profitability is a major support, but sustainability is uncertain. AppLovin’s AI advertising platform has lifted its adjusted EBITDA margin to approximately 84%. However, increasing competition, higher costs and a potentially slower pace of model improvement could make it difficult to maintain those margins. Can AppLovin’s 84% EBITDA Margin Sustain Growth?
• Neutral Sentiment: Third-quarter results are the next key catalyst. Investors will focus on advertising growth, progress in e-commerce and evidence that AppLovin’s AI models continue to improve. Analysts expect earnings growth, but recent commentary indicates the company may lack the factors typically associated with a likely earnings beat. AppLovin Earnings Expected to Grow
• Negative Sentiment: Multiple law firms are promoting a securities class action. The lawsuit alleges AppLovin overstated the reliability and compounding benefits of its AI advertising models before a July analyst report and the company’s August 5 results triggered a sharp stock decline. The allegations have not been proven, but the litigation adds reputational, financial and headline risk; investors covered by the proposed class period face a November 16 lead-plaintiff deadline. AppLovin Securities Class Action Notice

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APP shares. Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Jefferies Financial Group cut their price target on shares of AppLovin from $550.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Oppenheimer cut their price target on shares of AppLovin from $560.00 to $490.00 and set an “outperform” rating on the stock in a research report on Monday, October 12th. UBS Group reduced their price objective on shares of AppLovin from $790.00 to $414.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Raymond James Financial decreased their price objective on shares of AppLovin from $640.00 to $590.00 in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $491.64.

AppLovin Company Profile

AppLovin Corporation is a technology company that provides software and services designed to help mobile application developers grow, monetize and operate their businesses. Its platform supports user acquisition, advertising, mediation, analytics and other functions across the mobile app ecosystem.

The company’s principal products include AppDiscovery, which helps developers market their applications and acquire users; MAX, an in-app bidding and monetization platform; and its AXON technology, an artificial intelligence-powered engine intended to improve advertising performance and match users with relevant applications and content.