Bank of New York Mellon Corp Sells 85,190 Shares of AppLovin Corporation $APP

Key Points

• Bank of New York Mellon trimmed its AppLovin stake by 5.7% in the fourth quarter, selling 85,190 shares and leaving it with 1,408,304 shares worth about $948.9 million.
• AppLovin reported better-than-expected Q1 results, with EPS of $3.56 versus estimates of $3.44 and revenue of $1.84 billion versus $1.77 billion expected. Revenue jumped 58.9% year over year, underscoring strong growth and profitability.
• Despite some insider and institutional selling, Wall Street remains broadly bullish: analysts keep a Moderate Buy consensus on the stock, with a consensus target price of $664.35.

Bank of New York Mellon Corp decreased its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,408,304 shares of the company's stock after selling 85,190 shares during the period. Bank of New York Mellon Corp owned about 0.42% of AppLovin worth $948,943,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company's stock valued at $17,930,776,000 after buying an additional 7,051,663 shares during the period. State Street Corp boosted its holdings in shares of AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company's stock valued at $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Norges Bank purchased a new stake in shares of AppLovin in the 4th quarter worth about $2,040,321,000. Capital Research Global Investors purchased a new stake in shares of AppLovin in the 3rd quarter worth about $743,899,000. Finally, Northern Trust Corp increased its stake in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company's stock worth $1,706,144,000 after acquiring an additional 756,660 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin continues to get support from Wall Street, with analysts maintaining a Moderate Buy consensus and broadly optimistic views on the company’s outlook. AppLovin Corporation NASDAQ: APP Receives Average Rating of "Moderate Buy" from Analysts
• Positive Sentiment: The company’s May rally was tied to strong earnings and enthusiasm from both buy-side and sell-side investors, reinforcing the view that its AI-driven ad growth and profitability remain key strengths. Why AppLovin Rallied in May
• Positive Sentiment: Coverage highlighting significant insider ownership may reassure investors that management has meaningful skin in the game, which can be a positive signal for long-term alignment. Spotlight On AppLovin And 2 More Growth Stocks With Significant Insider Stakes
• Neutral Sentiment: AppLovin has drawn increased investor attention recently, which may reflect continued interest in the story rather than a fresh catalyst. AppLovin Corporation (APP) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Comments on the stock “outperforming the Dow” and its strong analyst support reinforce the bullish narrative, but do not appear to add a new near-term catalyst. Is AppLovin Stock Outperforming the Dow?
• Negative Sentiment: Software stocks sold off for a second straight session, and AppLovin was caught in the broader profit-taking move. 8x8, BlackLine, and AppLovin Stocks Trade Down, What You Need To Know
• Negative Sentiment: Recent analysis of APP’s year-to-date decline says the stock’s valuation remains elevated, even though profitability and AI ad growth remain strong, suggesting investors are still debating how much upside is already priced in. AppLovin Slides 15% YTD: Is the Stock a Buying Opportunity?

AppLovin Stock Down 5.7%

Shares of AppLovin stock opened at $570.83 on Thursday. The company has a 50-day simple moving average of $465.56 and a two-hundred day simple moving average of $521.17. The stock has a market capitalization of $191.76 billion, a PE ratio of 49.04, a price-to-earnings-growth ratio of 0.98 and a beta of 2.45. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. 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 (NASDAQ:APP - Get Free Report) last posted 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. The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business's revenue for the quarter was up 58.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.67 earnings per share. On average, analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of AppLovin from $750.00 to $775.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. BTIG Research reaffirmed a "buy" rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Oppenheimer lowered their target price on shares of AppLovin from $740.00 to $660.00 and set an "outperform" rating for the company in a report on Thursday, March 5th. Citigroup reissued a "buy" rating and issued a $710.00 price target on shares of AppLovin in a research report on Monday. Finally, Jefferies Financial Group reduced their price objective on AppLovin from $860.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $664.35.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares of the company's stock, valued at $1,117,625,877.90. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares of the company's stock, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 464,016 shares of company stock worth $218,477,985 in the last 90 days. 13.66% of the stock is currently owned by company insiders.

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.