AppLovin Corporation $APP Shares Sold by Aberdeen Group plc

Aberdeen Group plc lessened its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 50.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 31,335 shares of the company's stock after selling 32,362 shares during the period. Aberdeen Group plc's holdings in AppLovin were worth $16,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Washington Trust Advisors Inc. lifted its position in AppLovin by 160.0% in the fourth 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. Mcguire Capital Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC acquired a new position in AppLovin during the fourth quarter worth $32,000. Osbon Capital Management LLC purchased a new position in AppLovin in the fourth quarter worth $36,000. Finally, Dogwood Wealth Management LLC raised its position in AppLovin by 84.4% in the fourth quarter. Dogwood Wealth Management LLC now owns 59 shares of the company's stock worth $40,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the sale, the chief technology officer directly owned 3,189,739 shares of the company's stock, valued at approximately $1,545,173,366.38. The trade was a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares of the company's stock, valued at $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is currently owned by insiders.

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

AppLovin Price Performance

Shares of NASDAQ:APP opened at $315.44 on Monday. AppLovin Corporation has a one year low of $303.17 and a one year high of $745.61. The stock has a market cap 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 business's fifty day moving average price is $447.84 and its two-hundred day moving average price is $455.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 193.10% and a net margin of 64.58%.The business 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 earned $2.39 earnings per share. The business's revenue was up 52.8% on a year-over-year basis. On average, analysts forecast that AppLovin Corporation will post 15.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on APP. Phillip Securities raised AppLovin from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Scotiabank reiterated a "sector outperform" rating and issued a $515.00 price objective on shares of AppLovin in a research note on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $500.00 to $515.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. 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. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $565.91.

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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