Janney Montgomery Scott LLC Purchases 3,135 Shares of AppLovin Corporation $APP

Janney Montgomery Scott LLC grew its position in AppLovin Corporation (NASDAQ:APP) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,710 shares of the company’s stock after buying an additional 3,135 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AppLovin were worth $18,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in APP. State Street Corp raised 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 valued at $8,516,471,000 after acquiring an additional 6,237,051 shares in the last quarter. Corient Private Wealth LLC grew its holdings in AppLovin by 3,118.6% during the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after acquiring an additional 4,063,763 shares in the last quarter. Norges Bank purchased a new position in AppLovin during the 4th quarter valued at about $2,040,321,000. Capital Research Global Investors bought a new stake in shares of AppLovin in the 3rd quarter valued at about $743,899,000. Finally, Northern Trust Corp raised its holdings in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock valued at $1,706,144,000 after purchasing an additional 756,660 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 3.3%

Shares of APP opened at $515.23 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. 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 two-hundred day moving average is $506.70. The firm has a market cap of $173.09 billion, a P/E ratio of 44.26, a PEG ratio of 0.81 and a beta of 2.45.

AppLovin (NASDAQ:APP) last announced its 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. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company posted $1.67 EPS. The business’s quarterly revenue was up 58.9% on a year-over-year basis. Analysts predict that AppLovin Corporation will post 15.97 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on APP shares. Wedbush reiterated an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased 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. BTIG Research restated a “buy” rating and set a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. UBS Group decreased their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $668.27.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 389,924 shares of company stock valued at $195,693,875. Insiders own 13.66% of the company’s stock.

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.