USS Investment Management Ltd Purchases 113,689 Shares of AppLovin Corporation $APP

USS Investment Management Ltd raised its position in AppLovin Corporation (NASDAQ:APP) by 269.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,818 shares of the company’s stock after acquiring an additional 113,689 shares during the quarter. USS Investment Management Ltd’s holdings in AppLovin were worth $62,028,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Washington Trust Advisors Inc. grew its holdings in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Board of the Pension Protection Fund bought a new stake in AppLovin in the fourth quarter valued at approximately $27,000. Mcguire Capital Advisors Inc. bought a new stake in AppLovin in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $32,000. Finally, Graney & King LLC acquired a new stake in shares of AppLovin in the third quarter valued at approximately $36,000. Institutional investors own 41.85% of the company’s stock.

AppLovin News Roundup

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

Insider Activity

In other news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total transaction 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 approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 389,924 shares of company stock worth $195,693,875. Corporate insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on APP shares. Argus assumed coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. BTIG Research reaffirmed a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, May 28th. Finally, Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. 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. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $668.27.

AppLovin Price Performance

AppLovin stock opened at $515.23 on Wednesday. AppLovin Corporation has a 12 month low of $325.58 and a 12 month high of $745.61. The stock’s 50 day moving average is $498.42 and its 200-day moving average is $506.70. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $173.09 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 0.81 and a beta of 2.45.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period last year, the firm posted $1.67 EPS. Equities research analysts expect that AppLovin Corporation will post 15.97 EPS for the current year.

AppLovin 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.