Global Assets Advisory LLC Purchases Shares of 2,947 AppLovin Corporation $APP

Global Assets Advisory LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,947 shares of the company’s stock, valued at approximately $1,680,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of AppLovin by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after purchasing an additional 166,117 shares in the last quarter. State Street Corp raised its stake in AppLovin by 0.4% during the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after purchasing an additional 52,377 shares in the last quarter. Geode Capital Management LLC raised its stake in AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after purchasing an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after purchasing an additional 212,349 shares during the last quarter. Finally, Morgan Stanley lifted its position in AppLovin by 10.7% during the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after purchasing an additional 538,806 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 0.9%

Shares of NASDAQ:APP opened at $315.44 on Friday. AppLovin Corporation has a 1 year low of $303.17 and a 1 year high of $745.61. The business has a 50 day simple moving average of $447.84 and a two-hundred day simple moving average of $456.06. The firm has a market capitalization of $105.56 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 0.63 and a beta of 2.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, hitting the consensus estimate of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $2.39 earnings per share. The company’s revenue for the quarter was up 52.8% on a year-over-year basis. On average, equities analysts predict that AppLovin Corporation will post 15.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp set a $775.00 target price on shares of AppLovin in a report on Wednesday, June 10th. The Goldman Sachs Group lowered their price objective on AppLovin from $585.00 to $465.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada cut their target price on AppLovin from $700.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company restated an “equal weight” rating and set a $357.00 price target (down from $575.00) on shares of AppLovin in a report on Thursday, August 6th. Finally, Piper Sandler downgraded AppLovin from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $665.00 to $385.00 in a research report 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $565.91.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction on Thursday, June 4th. The stock was 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 $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of AppLovin stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total value of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 393,000 shares of company stock worth $197,297,363 over the last ninety days. Corporate insiders own 12.81% of the company’s stock.

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.