11,890 Shares in AppLovin Corporation $APP Acquired by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management disclosed a new position in AppLovin, buying 11,890 shares valued at about $4.73 million in the first quarter.
• Several insiders sold shares recently, including CFO Matthew Stumpf and insider Victoria Valenzuela, with insiders selling 393,000 shares worth about $197.3 million over the last 90 days.
• AppLovin shares fell 2.6% to $506.98, but the company recently beat earnings expectations and analysts remain broadly bullish, with an average target price of $668.45.

LGT Fund Management Co Ltd. bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,890 shares of the company's stock, valued at approximately $4,732,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new stake in AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. boosted its stake in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock worth $27,000 after buying an additional 24 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in shares of AppLovin during the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin during the fourth quarter valued at about $32,000. Finally, First Pacific Financial purchased a new stake in shares of AppLovin in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 9,052 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer owned 177,450 shares of the company's stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares of the company's stock, valued at $138,055,090.29. This represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 393,000 shares of company stock worth $197,297,363. Corporate insiders own 13.66% of the company's stock.

AppLovin Stock Down 2.6%

Shares of AppLovin stock traded down $13.45 during trading hours on Friday, reaching $506.98. 3,490,995 shares of the company were exchanged, compared to its average volume of 5,158,602. AppLovin Corporation has a 1 year low of $332.32 and a 1 year high of $745.61. The stock's fifty day moving average is $509.16 and its 200 day moving average is $499.15. 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 firm has a market cap of $170.31 billion, a PE ratio of 43.55, a PEG ratio of 0.82 and a beta of 2.49.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $1.67 earnings per share. AppLovin's revenue was up 58.9% compared to the same quarter last year. As a group, equities research analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of several recent analyst reports. BTIG Research restated a "buy" rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Raymond James Financial initiated coverage on AppLovin in a research report on Monday, June 29th. They issued a "strong-buy" rating and a $640.00 target price on the stock. Morgan Stanley restated an "overweight" rating on shares of AppLovin in a research note on Wednesday, May 27th. Benchmark reaffirmed a "buy" rating on shares of AppLovin in a research note on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $660.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $668.45.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Jefferies survey data suggests AppLovin is gaining e-commerce ad share as advertisers expand platform use, with its share of advertiser budgets rising to 11.1%, reinforcing the view that its ad tech is still taking share. Article on Jefferies survey and budget share gains
• Positive Sentiment: Analysts remain constructive, with BTIG reaffirming a Buy rating and a $640 price target, while other reports point to AppLovin’s strong earnings execution, revenue growth, and expanding margins. BTIG price target and earnings outlook article
• Positive Sentiment: Market commentary highlights that investors are closely watching AppLovin’s growth story, which can support momentum when sentiment around AI and ad-tech leaders is strong. Zacks article on investor interest
• Neutral Sentiment: Short-interest data showed no reported short interest as of July 10, so this update does not appear to signal meaningful bearish positioning.
• Negative Sentiment: Director Maynard G. Webb, Jr. sold 3,076 shares worth about $1.6 million, which may weigh on sentiment even though he still retains a large position. SEC filing on insider sale
• Negative Sentiment: New reporting raised questions about political donations and Chinese investor ties, introducing potential reputational and geopolitical overhangs for AppLovin (APP). Yahoo Finance article on political donations and investor ties

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.