International Assets Investment Management LLC grew its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 239.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,027 shares of the company's stock after purchasing an additional 3,544 shares during the quarter. International Assets Investment Management LLC's holdings in AppLovin were worth $1,950,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of APP. Vanguard Group Inc. grew its position in AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company's stock valued at $16,926,746,000 after acquiring an additional 166,117 shares during the last quarter. State Street Corp lifted its holdings in shares of AppLovin by 0.4% in the 4th quarter. State Street Corp now owns 11,904,843 shares of the company's stock worth $8,021,721,000 after acquiring an additional 52,377 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AppLovin by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company's stock worth $4,817,269,000 after acquiring an additional 448,005 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AppLovin by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company's stock valued at $4,103,386,000 after purchasing an additional 212,349 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of AppLovin by 10.7% in the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company's stock valued at $3,747,551,000 after purchasing an additional 538,806 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.
Key Headlines 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
Insider Activity
In related news, CTO Vasily Shikin sold 62,804 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the sale, the chief technology officer owned 3,189,739 shares of the company's stock, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This trade 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 sold 393,000 shares of company stock valued at $197,297,363. 13.66% of the stock is owned by insiders.
AppLovin Price Performance
NASDAQ APP opened at $506.98 on Monday. 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 $170.31 billion, a PE ratio of 43.55, a PEG ratio of 0.82 and a beta of 2.49. AppLovin Corporation has a 1 year low of $332.32 and a 1 year high of $745.61. The business's 50-day moving average is $509.16 and its 200 day moving average is $497.50.
AppLovin (NASDAQ:APP - Get Free Report) last released 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. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted $1.67 EPS. AppLovin's quarterly revenue was up 58.9% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current year.
Analyst Upgrades and Downgrades
APP has been the topic of several recent research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of AppLovin in a report on Wednesday, May 27th. Wedbush restated an "outperform" rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Piper Sandler reaffirmed an "overweight" rating on shares of AppLovin in a research note on Tuesday, July 7th. UBS Group decreased 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. Finally, KeyCorp set a $775.00 price objective on AppLovin in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $668.45.
Read Our Latest Analysis on APP
AppLovin Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP - Free Report).
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