Aware Super Pty Ltd as trustee of Aware Super Decreases Stock Holdings in AppLovin Corporation $APP

Key Points

• Aware Super reduced its AppLovin stake by 12.4% in the second quarter, selling 5,084 shares and retaining 35,868 shares valued at approximately $18.48 million.
• AppLovin reported quarterly EPS of $3.76, in line with estimates, while revenue of $1.92 billion fell slightly short of expectations but increased 52.8% year over year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and average price target of $565.91, although concerns include slowing gaming-ad improvements, competitive pressure and recent insider selling.

Aware Super Pty Ltd as trustee of Aware Super lowered its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 12.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 35,868 shares of the company's stock after selling 5,084 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super's holdings in AppLovin were worth $18,480,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company's stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of AppLovin by 3,118.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company's stock worth $2,826,049,000 after purchasing an additional 4,063,763 shares in the last quarter. Norges Bank purchased a new stake in shares of AppLovin during the fourth quarter worth about $2,040,321,000. Northern Trust Corp raised its position in shares of AppLovin by 46.8% during the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company's stock worth $1,706,144,000 after purchasing an additional 756,660 shares during the last quarter. Finally, Amundi raised its position in shares of AppLovin by 81.3% during the 4th quarter. Amundi now owns 1,426,896 shares of the company's stock worth $961,471,000 after purchasing an additional 639,836 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business's stock in a transaction 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 transaction, the insider owned 243,961 shares of the company's stock, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the company's stock in a transaction 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 owned 120,444 shares of the company's stock, valued at approximately $62,786,252.76. The trade was a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BTIG Research lowered their price objective on AppLovin from $574.00 to $408.00 and set a "buy" rating on the stock in a report on Wednesday. Raymond James Financial initiated coverage on AppLovin in a report on Monday, June 29th. They set a "strong-buy" rating and a $640.00 target price for the company. Scotiabank restated a "sector outperform" rating and issued a $515.00 target price on shares of AppLovin in a research report on Thursday, August 6th. Weiss Ratings raised AppLovin from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. Finally, KeyCorp set a $775.00 price target on AppLovin in a research report on Wednesday, June 10th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $565.91.

Key AppLovin News

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 Stock Up 0.9%

APP stock opened at $315.44 on Friday. The company has a market cap of $105.56 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 0.63 and a beta of 2.54. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. AppLovin Corporation has a 12 month low of $303.17 and a 12 month high of $745.61. The firm has a 50-day moving average of $447.84 and a two-hundred day moving average of $456.06.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, hitting analysts' consensus estimates of $3.76. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The business's revenue was up 52.8% on a year-over-year basis. During the same period last year, the company posted $2.39 EPS. As a group, analysts forecast that AppLovin Corporation will post 15.57 earnings per share for the current fiscal year.

About AppLovin

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.

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