Leonteq Securities AG Decreases Stock Position in AppLovin Corporation $APP

Leonteq Securities AG lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 31.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,944 shares of the company’s stock after selling 2,274 shares during the period. Leonteq Securities AG’s holdings in AppLovin were worth $2,547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in APP. State Street Corp increased its holdings in shares of AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares during the last quarter. Corient Private Wealth LLC boosted its stake in AppLovin by 3,118.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock valued at $2,826,049,000 after buying an additional 4,063,763 shares during the last quarter. Norges Bank bought a new position in AppLovin during the fourth quarter valued at approximately $2,040,321,000. Northern Trust Corp grew its holdings in AppLovin by 46.8% during the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock valued at $1,706,144,000 after buying an additional 756,660 shares in the last quarter. Finally, Amundi grew its holdings in AppLovin by 81.3% during the 4th quarter. Amundi now owns 1,426,896 shares of the company’s stock valued at $961,471,000 after buying an additional 639,836 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

AppLovin Trading Up 0.9%

Shares of APP opened at $315.44 on Friday. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. The company has a market cap of $105.56 billion, a P/E ratio of 24.25, a P/E/G ratio of 0.63 and a beta of 2.54. AppLovin Corporation has a twelve month low of $303.17 and a twelve month high of $745.61. The company’s fifty day simple moving average is $447.84 and its 200-day simple moving average is $456.06.

AppLovin (NASDAQ:APP) last announced its earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.76. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The company’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.39 earnings per share. As a group, analysts expect that AppLovin Corporation will post 15.57 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Scotiabank reaffirmed a “sector outperform” rating and issued a $515.00 price objective on shares of AppLovin in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Bank of America reissued a “neutral” rating and issued a $400.00 target price (down from $430.00) on shares of AppLovin in a report on Tuesday. Benchmark reduced their price target on shares of AppLovin from $775.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, KeyCorp set a $775.00 price target on shares of AppLovin in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $565.91.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction on Friday, June 12th. The stock was 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. This represents a 0.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 393,000 shares of company stock valued at $197,297,363. Company insiders own 12.81% 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.