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

iA Global Asset Management Inc. lessened its holdings in AppLovin Corporation (NASDAQ:APP) by 22.9% in the 1st quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Board of the Pension Protection Fund acquired a new position in shares of AppLovin during the fourth quarter valued at about $27,000. Washington Trust Advisors Inc. boosted its stake in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in AppLovin in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin during the 4th quarter worth approximately $32,000. Finally, First Pacific Financial acquired a new position in AppLovin during the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the sale, the director directly owned 123,520 shares of the company’s stock, valued at approximately $71,893,580.80. This trade represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of AppLovin stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the transaction, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 389,924 shares of company stock worth $195,693,875 in the last three months. Company insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on APP shares. Wells Fargo & Company raised their price target on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. JPMorgan Chase & Co. boosted their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Two equities 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $668.27.

More 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 Stock Up 3.3%

APP stock opened at $515.23 on Wednesday. The firm’s fifty day simple moving average is $498.42 and its 200-day simple moving average is $506.70. The company has a market capitalization of $173.09 billion, a P/E ratio of 44.26, a price-to-earnings-growth ratio of 0.81 and a beta of 2.45. 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 $325.58 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during 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 firm’s revenue was up 58.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 earnings per share. As a group, equities research analysts forecast that AppLovin Corporation will post 15.97 earnings per share for the current year.

AppLovin Company Profile

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.