Bank of New York Mellon Corp Purchases Shares of 1,416,873 AppLovin Corporation $APP

Key Points

• Bank of New York Mellon purchased 1,416,873 AppLovin shares worth approximately $730 million, establishing a 0.42% stake. Institutional investors collectively own 41.85% of the company.
• AppLovin’s CEO and CFO recently sold shares, contributing to $153.8 million in insider sales over the past 90 days; insiders still own 12.81% of the stock.
• The stock opened at $308.77, close to its 52-week low of $303.17, after second-quarter revenue came in below expectations. Analysts have cut several price targets, although the consensus rating remains “Moderate Buy” with a $556.43 target.

Bank of New York Mellon Corp purchased a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,416,873 shares of the company's stock, valued at approximately $730,015,000. Bank of New York Mellon Corp owned approximately 0.42% of AppLovin as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. increased its holdings in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock worth $27,000 after buying an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at $32,000. Osbon Capital Management LLC bought a new stake in shares of AppLovin in the 4th quarter worth about $36,000. Finally, Dogwood Wealth Management LLC boosted its stake in shares of AppLovin by 84.4% during the 4th quarter. Dogwood Wealth Management LLC now owns 59 shares of the company's stock worth $40,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 33,042 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer owned 177,450 shares of the company's stock, valued at approximately $106,470,000. This represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 303,280 shares of company stock worth $153,835,185. 12.81% of the stock is currently owned by company insiders.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s longer-term opportunity. A bullish view points to the rollout of AXON 2.0 self-serve capabilities and e-commerce onboarding in the third quarter, along with expansion into e-commerce and connected TV, as potential catalysts for renewed growth and a valuation recovery. AppLovin: Here's How I See 3 Catalysts That Could Drive Valuation Re-Rating
• Neutral Sentiment: AppLovin continues to show strong operating metrics, including approximately 53% year-over-year quarterly revenue growth, a roughly 65% net margin, and significant earnings expansion. However, comparisons with faster-growing CoreWeave emphasize that AppLovin’s recent quarterly revenue momentum may be less compelling than some high-growth technology peers. AppLovin vs. CoreWeave: What Recent Revenue Trends Tell Investors
• Negative Sentiment: Wells Fargo lowered its AppLovin price target from $357 to $325 and maintained an “equal weight” rating, signaling limited expected upside and reducing support for the stock. Wells Fargo Lowers AppLovin Price Target
• Negative Sentiment: Jefferies reported that investor sentiment has turned mostly negative, with the bullish case becoming harder to articulate. Investors are increasingly questioning whether AppLovin could experience a downturn similar to The Trade Desk, making this one of the most concerning debates the firm has encountered while covering the company. AppLovin Sentiment Turns Negative
• Negative Sentiment: Additional analyst downgrades and pessimistic forecasts are adding to selling pressure. The concerns follow AppLovin’s second-quarter revenue and EBITDA shortfalls versus guidance, raising questions about whether its premium valuation can be sustained without a near-term reacceleration in growth. AppLovin Trading Down After Analyst Downgrade

AppLovin Stock Performance

AppLovin stock opened at $308.77 on Friday. 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 company has a market capitalization of $103.33 billion, a PE ratio of 23.73, a P/E/G ratio of 0.62 and a beta of 2.54. The company has a 50 day moving average price of $431.50 and a 200-day moving average price of $449.24. AppLovin Corporation has a fifty-two week low of $303.17 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.76. The company had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.AppLovin's revenue was up 52.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.39 earnings per share. As a group, equities analysts forecast that AppLovin Corporation will post 15.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on APP shares. William Blair set a $440.00 price objective on shares of AppLovin in a research report on Monday. Benchmark dropped their target price on AppLovin from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Monday. Weiss Ratings raised AppLovin from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. Citigroup reduced their price target on AppLovin from $710.00 to $650.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Finally, Needham & Company LLC decreased their price target on AppLovin from $700.00 to $500.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $556.43.

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.

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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