Intech Investment Management LLC Has $26.26 Million Stock Position in AppLovin Corporation $APP

Key Points

• Intech Investment Management boosted its AppLovin stake by 28% in the fourth quarter, ending with 38,966 shares valued at about $26.26 million.
• AppLovin continues to draw bullish analyst support, with firms like Morgan Stanley, Needham, BTIG, and Wells Fargo reiterating positive ratings and setting price targets as high as $720.
• The company’s latest earnings were strong, with EPS of $3.56 and revenue of $1.84 billion both topping expectations, while revenue jumped 58.9% year over year.

Intech Investment Management LLC increased its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 28.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,966 shares of the company's stock after purchasing an additional 8,514 shares during the quarter. Intech Investment Management LLC's holdings in AppLovin were worth $26,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd increased its position in AppLovin by 73.5% in the third quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company's stock worth $54,664,000 after purchasing an additional 32,510 shares during the period. Allworth Financial LP increased its position in AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company's stock worth $4,347,000 after purchasing an additional 3,438 shares during the period. APG Asset Management N.V. acquired a new stake in AppLovin in the third quarter worth about $4,958,000. Principal Financial Group Inc. increased its position in AppLovin by 946.5% in the third quarter. Principal Financial Group Inc. now owns 326,999 shares of the company's stock worth $234,962,000 after purchasing an additional 295,753 shares during the period. Finally, Metis Global Partners LLC increased its position in AppLovin by 138.3% in the third quarter. Metis Global Partners LLC now owns 10,094 shares of the company's stock worth $7,253,000 after purchasing an additional 5,859 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APP has been the topic of a number of recent analyst reports. BTIG Research restated a "buy" rating and set a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. The Goldman Sachs Group reduced their target price on AppLovin from $710.00 to $585.00 and set a "neutral" rating on the stock in a report on Thursday, February 12th. Morgan Stanley restated an "overweight" rating on shares of AppLovin in a report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $700.00 target price on shares of AppLovin in a report on Thursday. Finally, Wells Fargo & Company raised their target price on AppLovin from $560.00 to $571.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. One investment analyst has 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 MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and a consensus price target of $664.35.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

AppLovin Trading Up 5.6%

NASDAQ:APP opened at $599.89 on Friday. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market capitalization of $201.53 billion, a PE ratio of 51.54, a price-to-earnings-growth ratio of 0.92 and a beta of 2.37. The business's 50-day simple moving average is $453.17 and its 200-day simple moving average is $521.05.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the business posted $1.67 EPS. AppLovin's revenue for the quarter was up 58.9% on a year-over-year basis. Sell-side analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 transaction of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at $1,583,462,445.39. This trade represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 454,964 shares of company stock worth $213,046,785 in the last 90 days. Corporate insiders own 13.66% of the company's stock.

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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