Amundi Has $443.94 Million Stock Position in AppLovin Corporation $APP

Amundi lessened its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,115,419 shares of the company's stock after selling 311,477 shares during the quarter. Amundi owned approximately 0.33% of AppLovin worth $443,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. Vanguard Group Inc. raised its holdings in shares of AppLovin by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company's stock worth $16,926,746,000 after buying an additional 166,117 shares in the last quarter. State Street Corp raised its position in AppLovin by 0.4% in 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 boosted its position in AppLovin by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company's stock worth $4,103,386,000 after buying an additional 212,349 shares during the period. Finally, Morgan Stanley boosted its position in AppLovin by 10.7% during the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company's stock worth $3,747,551,000 after buying an additional 538,806 shares during the period. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the transaction, the chief technology officer directly owned 3,189,739 shares in the company, valued at approximately $1,545,173,366.38. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Stumpf sold 9,052 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares of the company's stock, valued at $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on APP. Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They set a "buy" rating and a $520.00 price target on the stock. Wedbush restated an "outperform" rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Needham & Company LLC restated a "buy" rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, Weiss Ratings cut shares of AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $668.45.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Wedbush expects AppLovin to report second-quarter results above its own guidance, supported by continued strength in the company’s core advertising business. The firm also expects consumer-growth initiatives to take longer to develop, but views the underlying business momentum favorably. AppLovin Q2 Results Poised to Top Guidance, Consumer Growth Expected to Take Time, Wedbush Says
• Positive Sentiment: A bullish analysis argues that the market may be underestimating AppLovin’s fundamental strength. Potential upside drivers include a longer-than-expected gaming growth runway, expansion into additional verticals, and longer-term opportunities such as video streaming. AppLovin: The Market Continues To Underestimate Fundamental Strength
• Neutral Sentiment: AppLovin is scheduled to report earnings next week, with Wall Street expecting year-over-year earnings growth. The preview provides a potential catalyst, but the available analysis says the company lacks the typical combination of factors that would support a likely earnings beat, leaving expectations and guidance especially important. AppLovin Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: The stock recently outperformed the broader market during one trading session, indicating intermittent buying interest, although that short-term strength has not reversed the broader period of weakness. AppLovin Outpaces Stock Market Gains: What You Should Know
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AppLovin investors. Although the announcement does not establish wrongdoing, the legal inquiry adds headline, litigation and reputational risk to the stock. Investor Alert: Pomerantz Law Firm Investigates Claims on Behalf of Investors of AppLovin

AppLovin Price Performance

Shares of NASDAQ:APP opened at $399.46 on Thursday. The firm has a market capitalization of $134.19 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 0.68 and a beta of 2.49. The stock's 50 day moving average is $494.55 and its 200-day moving average is $474.53. AppLovin Corporation has a twelve month low of $358.55 and a twelve month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

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

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.

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