IFM Investors Pty Ltd Raises Stock Position in AppLovin Corporation $APP

IFM Investors Pty Ltd lifted its holdings in AppLovin Corporation (NASDAQ:APP) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,919 shares of the company’s stock after buying an additional 1,606 shares during the period. IFM Investors Pty Ltd’s holdings in AppLovin were worth $18,674,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new stake in AppLovin during the fourth quarter worth approximately $294,000. Bison Wealth LLC bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $239,000. Integrated Wealth Concepts LLC lifted its stake in shares of AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares during the last quarter. NewEdge Advisors LLC boosted its holdings 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 period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of 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 during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of AppLovin stock opened at $515.23 on Wednesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock’s fifty day moving average is $498.42 and its two-hundred day moving average is $506.70. AppLovin Corporation has a 52 week low of $325.58 and a 52 week high of $745.61. The company has a market capitalization of $173.09 billion, a PE ratio of 44.26, a price-to-earnings-growth ratio of 0.81 and a beta of 2.45.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. As a group, analysts expect that AppLovin Corporation will post 15.97 earnings per share for the current year.

Key Stories Impacting AppLovin

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating on shares of AppLovin in a report on Tuesday, June 9th. UBS Group dropped their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Argus started coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. Finally, Citigroup restated a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.27.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the business’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 completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 389,924 shares of company stock worth $195,693,875 over the last ninety days. 13.66% of the stock is currently owned by company insiders.

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.