Candriam S.C.A. Raises Position in AppLovin Corporation $APP

Key Points

• Candriam S.C.A. boosted its AppLovin stake by 118.7% in the first quarter, ending with 78,559 shares worth about $31.3 million after adding 42,638 shares.
• AppLovin continues to draw bullish analyst attention, with firms like BTIG and Wedbush maintaining Buy/Outperform ratings and the stock carrying a consensus Moderate Buy rating and $668.45 average target.
• The company’s latest results were strong, with EPS of $3.56 and revenue of $1.84 billion both beating estimates, while revenue jumped 58.9% year over year.

Candriam S.C.A. lifted its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 118.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,559 shares of the company's stock after acquiring an additional 42,638 shares during the period. Candriam S.C.A.'s holdings in AppLovin were worth $31,266,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of APP. Revolve Wealth Partners LLC purchased a new position in AppLovin during the fourth quarter valued at $294,000. Bison Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter worth $239,000. Integrated Wealth Concepts LLC increased its holdings in shares of AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock valued at $448,000 after acquiring an additional 621 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock worth $5,084,000 after purchasing an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in AppLovin by 7.2% in 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 purchasing an additional 9,380 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Jefferies survey data suggests AppLovin is gaining e-commerce ad share as advertisers expand platform use, with its share of advertiser budgets rising to 11.1%, reinforcing the view that its ad tech is still taking share. Article on Jefferies survey and budget share gains
• Positive Sentiment: Analysts remain constructive, with BTIG reaffirming a Buy rating and a $640 price target, while other reports point to AppLovin’s strong earnings execution, revenue growth, and expanding margins. BTIG price target and earnings outlook article
• Positive Sentiment: Market commentary highlights that investors are closely watching AppLovin’s growth story, which can support momentum when sentiment around AI and ad-tech leaders is strong. Zacks article on investor interest
• Neutral Sentiment: Short-interest data showed no reported short interest as of July 10, so this update does not appear to signal meaningful bearish positioning.
• Negative Sentiment: Director Maynard G. Webb, Jr. sold 3,076 shares worth about $1.6 million, which may weigh on sentiment even though he still retains a large position. SEC filing on insider sale
• Negative Sentiment: New reporting raised questions about political donations and Chinese investor ties, introducing potential reputational and geopolitical overhangs for AppLovin (APP). Yahoo Finance article on political donations and investor ties

AppLovin Stock Performance

Shares of APP traded down $13.45 during trading hours on Friday, hitting $506.98. The stock had a trading volume of 3,490,995 shares, compared to its average volume of 5,158,602. The firm has a market capitalization of $170.31 billion, a PE ratio of 43.55, a PEG ratio of 0.82 and a beta of 2.49. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 12 month low of $332.32 and a 12 month high of $745.61. The stock has a fifty day moving average price of $509.16 and a 200 day moving average price of $499.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin's revenue was up 58.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. Analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Argus initiated coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a "buy" rating and a $520.00 price objective for the company. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Wedbush reaffirmed an "outperform" rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, Benchmark reiterated a "buy" rating on shares of AppLovin in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average target price of $668.45.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction 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. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 33,042 shares of the company's stock in a transaction on Thursday, June 11th. The stock was 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 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. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 in the last 90 days. 13.66% of the stock is owned by 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.

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