AppLovin Corporation $APP Stock Holdings Lessened by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its AppLovin stake by 15.6% in the first quarter, selling 28,235 shares and retaining 152,282 shares valued at approximately $60.6 million. Institutional investors and hedge funds collectively own 41.85% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $668.45. Recent ratings include Wedbush’s “Outperform” call at $640 and UBS’s “Buy” rating with a $716 target.
• AppLovin reported quarterly results above expectations, including $3.56 in EPS and $1.84 billion in revenue, up 58.9% year over year. However, insiders sold roughly 393,000 shares worth $197.3 million over the past 90 days, while the stock recently traded down 4.5%.

The Manufacturers Life Insurance Company cut its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 15.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 152,282 shares of the company's stock after selling 28,235 shares during the period. The Manufacturers Life Insurance Company's holdings in AppLovin were worth $60,608,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. Revolve Wealth Partners LLC bought a new position in shares of AppLovin during the fourth quarter valued at approximately $294,000. Bison Wealth LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $239,000. Integrated Wealth Concepts LLC boosted its position in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock valued at $448,000 after purchasing an additional 621 shares during the period. NewEdge Advisors LLC boosted its position in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock valued at $5,084,000 after purchasing an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company's stock worth $48,727,000 after buying an additional 9,380 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wedbush reaffirmed an "outperform" rating and issued a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Piper Sandler reissued an "overweight" rating on shares of AppLovin in a report on Tuesday, July 7th. UBS Group lowered their price target on shares of AppLovin from $740.00 to $716.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a report on Monday, June 22nd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of AppLovin in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $668.45.

AppLovin Trading Down 4.5%

Shares of APP stock opened at $399.46 on Thursday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a 1 year low of $358.55 and a 1 year high of $745.61. The stock has a fifty day moving average of $494.55 and a two-hundred day moving average of $474.53. The firm has a market capitalization of $134.19 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 0.68 and a beta of 2.49.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The company's quarterly revenue was up 58.9% compared to the same quarter last year. As a group, research analysts expect that AppLovin Corporation will post 15.93 EPS for the current year.

Insider Transactions at AppLovin

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

Trending Headlines about AppLovin

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 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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