AppLovin Corporation $APP Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC decreased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 44.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,871 shares of the company’s stock after selling 10,157 shares during the quarter. Cornerstone Advisors LLC’s holdings in AppLovin were worth $3,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of AppLovin by 28.3% in the second quarter. State Street Corp now owns 15,095,667 shares of the company’s stock valued at $7,777,741,000 after buying an additional 3,328,338 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in AppLovin during the second quarter worth $730,015,000. Aberdeen Group plc increased its holdings in AppLovin by 2,693.5% during the third quarter. Aberdeen Group plc now owns 875,345 shares of the company’s stock worth $254,226,000 after buying an additional 844,010 shares during the last quarter. Fundsmith LLP bought a new stake in AppLovin during the second quarter worth $358,893,000. Finally, The Manufacturers Life Insurance Company raised its position in AppLovin by 409.6% during the second quarter. The Manufacturers Life Insurance Company now owns 776,097 shares of the company’s stock worth $399,868,000 after acquiring an additional 623,815 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

More AppLovin News

Investors following APP have been watching these news items:

• Positive Sentiment: AppLovin’s latest quarterly results beat analyst estimates for earnings and revenue, with revenue up 55.5% year over year. A report also cites fresh fourth-quarter guidance and an expanded share-repurchase plan, supporting the recent rebound in the shares. Article: AppLovin Jumps on Strong Q3 Results
• Negative Sentiment: Several law firms are publicizing a pending securities class action, with a November 16 lead-plaintiff deadline. The complaint alleges AppLovin executives made misleading statements about the readiness, integration, and adoption of its AI models and self-service ad tools. These are allegations, not findings, but the litigation could add uncertainty and reputational risk. Article: AppLovin Securities Class Action Alert
• Negative Sentiment: ETFs were net sellers of $16.7 million in AppLovin shares on Nov. 11, a modest sign of selling pressure. Article: ETFs Are Net Sellers of AppLovin

AppLovin Stock Up 3.9%

APP stock opened at $409.10 on Friday. AppLovin Corporation has a 1-year low of $225.19 and a 1-year high of $738.01. The business’s 50 day simple moving average is $302.13 and its 200 day simple moving average is $406.68. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $135.54 billion, a PE ratio of 27.53, a PEG ratio of 0.80 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.27. AppLovin had a return on equity of 182.97% and a net margin of 65.89%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm posted $2.45 EPS. The company’s quarterly revenue was up 55.5% on a year-over-year basis. As a group, research analysts anticipate that AppLovin Corporation will post 16.25 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on APP shares. Deutsche Bank cut their price target on shares of AppLovin from $660.00 to $580.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Evercore restated an “outperform” rating and set a $510.00 price objective (down from $630.00) on shares of AppLovin in a research note on Tuesday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $475.00 target price on shares of AppLovin in a report on Thursday, November 5th. William Blair set a $440.00 target price on shares of AppLovin in a report on Monday, August 17th. Finally, Benchmark cut their target price on shares of AppLovin from $500.00 to $440.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $497.93.

About AppLovin

AppLovin is a technology company that provides software to help mobile app developers and advertisers grow their businesses. Its platform connects advertisers seeking users with app publishers looking to monetize their audiences, using data and machine-learning tools to support advertising and user acquisition. The company’s products include AXON, its advertising optimization engine; AppDiscovery, which helps advertisers find and acquire users; and MAX, a platform for managing in-app advertising.