Royal London Asset Management Ltd. Has $81.12 Million Stock Position in AppLovin Corporation $APP

Royal London Asset Management Ltd. decreased its stake in AppLovin Corporation (NASDAQ:APP) by 1.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 120,391 shares of the company’s stock after selling 2,086 shares during the quarter. Royal London Asset Management Ltd.’s holdings in AppLovin were worth $81,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Redhawk Wealth Advisors Inc. grew its position in shares of AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after acquiring an additional 18 shares during the period. Verdence Capital Advisors LLC grew its position in shares of AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the period. Claro Advisors LLC boosted its holdings in AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after buying an additional 20 shares during the period. Strategic Advocates LLC boosted its holdings in AppLovin by 0.8% in the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after buying an additional 21 shares during the period. Finally, Finivi Inc. boosted its holdings in AppLovin by 3.2% in the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin News Roundup

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 33,042 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the sale, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 389,924 shares of company stock valued at $187,404,946. Corporate insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, May 28th. KeyCorp set a $775.00 price target on shares of AppLovin in a research note on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

AppLovin Price Performance

NASDAQ APP opened at $496.77 on Friday. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The firm’s 50 day moving average price is $482.88 and its 200-day moving average price is $520.84. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market cap of $166.88 billion, a PE ratio of 42.68, a P/E/G ratio of 0.78 and a beta of 2.45.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS 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 company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal 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.