AppLovin Corporation $APP Shares Bought by Amundi

Key Points

• Amundi increased its AppLovin stake by 19.5% in the second quarter, adding 217,214 shares to own 1.33 million shares valued at approximately $686.6 million. Institutional investors and hedge funds own 41.85% of the company.
• AppLovin reported quarterly EPS of $3.76, matching estimates, while revenue rose 52.8% year over year to $1.92 billion, slightly below the $1.94 billion consensus.
• Insiders sold $135.3 million of AppLovin shares over the past three months, while analysts maintain a “Moderate Buy” consensus with an average price target of $538.61 despite several recent target-price cuts.

Amundi grew its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 19.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,332,633 shares of the company's stock after buying an additional 217,214 shares during the quarter. Amundi owned 0.40% of AppLovin worth $686,612,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in APP. California State Teachers Retirement System raised its position in shares of AppLovin by 50,874.8% during the 2nd quarter. California State Teachers Retirement System now owns 178,017,633 shares of the company's stock worth $91,720,025,000 after purchasing an additional 177,668,406 shares during the last quarter. State Street Corp boosted its holdings in AppLovin by 0.4% in the 4th quarter. State Street Corp now owns 11,904,843 shares of the company's stock worth $8,021,721,000 after buying an additional 52,377 shares during the last quarter. Geode Capital Management LLC increased its stake in AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company's stock worth $4,817,269,000 after buying an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 in the last quarter. Finally, Morgan Stanley raised its holdings in shares of 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 acquiring an additional 538,806 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Arash Foroughi sold 19,123 shares of AppLovin stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $482.02, for a total value of $9,217,668.46. Following the completion of the sale, the chief executive officer owned 2,350,228 shares in the company, valued at approximately $1,132,856,900.56. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Jr sold 3,076 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the sale, the director directly owned 120,444 shares in the company, valued at approximately $62,786,252.76. The trade was a 2.49% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 271,152 shares of company stock valued at $135,295,830. Company insiders own 12.81% of the company's stock.

AppLovin Stock Performance

APP opened at $320.56 on Monday. The stock has a market capitalization of $107.28 billion, a PE ratio of 24.64, a P/E/G ratio of 0.68 and a beta of 2.49. AppLovin Corporation has a one year low of $297.50 and a one year high of $745.61. 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 business's 50 day moving average price is $394.59 and its 200 day moving average price is $440.62.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $3.76 EPS for the quarter, meeting analysts' consensus estimates of $3.76. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The company's revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.39 earnings per share. As a group, equities research analysts expect that AppLovin Corporation will post 15.53 EPS for the current year.

Analyst Ratings Changes

APP has been the topic of several research reports. The Goldman Sachs Group decreased their target price on AppLovin from $585.00 to $465.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Raymond James Financial started coverage on AppLovin in a research report on Monday, June 29th. They set a "strong-buy" rating and a $640.00 price target for the company. Weiss Ratings raised AppLovin from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. Benchmark decreased their price objective on AppLovin from $500.00 to $440.00 and set a "buy" rating on the stock in a report on Monday, August 17th. Finally, Bank of America reaffirmed a "neutral" rating and set a $400.00 target price (down from $430.00) on shares of AppLovin in a research note on Tuesday, August 11th. Three equities research 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, AppLovin currently has a consensus rating of "Moderate Buy" and an average target price of $538.61.

AppLovin 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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