iA Global Asset Management Inc. Decreases Holdings in AppLovin Corporation $APP

Key Points

• iA Global Asset Management cut its AppLovin stake by 22.9% in the first quarter, selling 18,756 shares and leaving it with 63,241 shares worth about $25.17 million.
• Insiders have been selling too: director Eduardo Vivas sold 163,910 shares and, over the last 90 days, insiders collectively sold 389,924 shares worth about $195.7 million.
• Despite the selling, AppLovin is still drawing bullish analyst attention after beating earnings expectations, posting 58.9% revenue growth, and receiving a new Strong Buy call from Raymond James with a $640 price target.

iA Global Asset Management Inc. decreased its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 22.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,241 shares of the company's stock after selling 18,756 shares during the period. iA Global Asset Management Inc.'s holdings in AppLovin were worth $25,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Allworth Financial LP lifted its stake in shares of AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company's stock worth $4,347,000 after acquiring an additional 3,438 shares during the last quarter. APG Asset Management N.V. bought a new position in AppLovin in the 3rd quarter valued at $4,958,000. Franklin Resources Inc. grew its position in AppLovin by 24.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company's stock valued at $1,754,996,000 after acquiring an additional 487,492 shares during the last quarter. Generate Investment Management Ltd purchased a new stake in AppLovin in the fourth quarter worth $2,347,000. Finally, Kinetic Partners Management LP lifted its position in shares of AppLovin by 7.5% during the third quarter. Kinetic Partners Management LP now owns 128,106 shares of the company's stock worth $92,049,000 after purchasing an additional 8,930 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 163,910 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 389,924 shares of company stock worth $195,693,875. Insiders own 13.66% of the company's stock.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Raymond James initiated coverage on AppLovin with a Strong Buy rating and a $640 price target, implying meaningful upside from recent levels and helping support the stock. Benzinga reference
• Positive Sentiment: AppLovin opened its self-serve advertising platform to all advertisers, a move that could broaden adoption of its AI-driven ad tools and strengthen future revenue growth. PocketGamer.biz article
• Positive Sentiment: Several recent articles highlighted broadly constructive Wall Street sentiment toward AppLovin’s AI ad platform, reinforcing the bullish view that earnings and fundamentals remain strong. Yahoo Finance article
• Neutral Sentiment: AppLovin was also mentioned in a roundup of stocks making big moves, reflecting elevated trader attention but offering little new company-specific detail. Yahoo Finance roundup
• Negative Sentiment: Investors also noted that AppLovin’s CEO sold about $51 million of discretionary shares, which may raise questions about insider confidence even though insider selling does not necessarily reflect the business outlook. MarketBeat article

AppLovin Trading Up 3.3%

APP opened at $515.23 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a market cap of $173.09 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 0.81 and a beta of 2.45. AppLovin Corporation has a 12 month low of $325.58 and a 12 month high of $745.61. The stock has a fifty day moving average price of $498.42 and a 200-day moving average price of $506.70.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data 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%.The firm's revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 earnings per share. As a group, equities research analysts anticipate that AppLovin Corporation will post 15.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. UBS Group reduced their price objective on AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Benchmark reaffirmed a "buy" rating on shares of AppLovin in a research report on Wednesday, June 10th. Raymond James Financial started coverage on AppLovin in a research report on Monday. They set a "strong-buy" rating and a $640.00 price target on the stock. Finally, Morgan Stanley restated an "overweight" rating on shares of AppLovin in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $668.27.

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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