AppLovin Corporation $APP Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in AppLovin Corporation (NASDAQ:APP) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 560,422 shares of the company’s stock after buying an additional 10,084 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in AppLovin were worth $288,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Verdence Capital Advisors LLC lifted its holdings in AppLovin by 5.7% in the fourth 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. Finivi Inc. grew its stake in shares of AppLovin by 3.2% during the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after purchasing an additional 22 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of AppLovin by 2.8% during the 2nd quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock valued at $438,000 after purchasing an additional 23 shares in the last quarter. Alta Wealth Advisors LLC increased its holdings in shares of AppLovin by 0.6% during the 4th quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock valued at $2,645,000 after purchasing an additional 24 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its stake in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin News Summary

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

AppLovin Stock Performance

NASDAQ:APP opened at $315.44 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The stock has a market capitalization of $105.56 billion, a PE ratio of 24.25, a P/E/G ratio of 0.63 and a beta of 2.54. AppLovin Corporation has a fifty-two week low of $303.17 and a fifty-two week high of $745.61. The company has a fifty day moving average of $447.84 and a two-hundred day moving average of $456.06.

AppLovin (NASDAQ:APP) last announced its earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business earned $2.39 earnings per share. The company’s revenue for the quarter was up 52.8% compared to the same quarter last year. As a group, research analysts forecast that AppLovin Corporation will post 15.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APP. Royal Bank Of Canada lowered their price target on shares of AppLovin from $700.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $357.00 price objective (down from $575.00) on shares of AppLovin in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial began coverage on AppLovin in a report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $565.91.

Insider Buying and Selling

In other news, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the transaction, the director owned 120,444 shares in the company, valued at $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the transaction, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 393,000 shares of company stock worth $197,297,363 in the last quarter. 12.81% of the stock is owned by insiders.

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.