AppLovin Corporation $APP Stock Holdings Increased by Erste Asset Management GmbH

Erste Asset Management GmbH grew its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 430.8% in the second quarter, HoldingsChannel reports. The fund owned 58,937 shares of the company’s stock after buying an additional 47,833 shares during the period. Erste Asset Management GmbH’s holdings in AppLovin were worth $29,395,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC increased its holdings in shares of AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the period. Finivi Inc. raised its stake in shares of AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after purchasing an additional 22 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in AppLovin by 2.8% in the second quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock worth $438,000 after purchasing an additional 23 shares during the period. Alta Wealth Advisors LLC lifted its holdings in AppLovin by 0.6% in the fourth quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock worth $2,645,000 after purchasing an additional 24 shares during the period. Finally, Washington Trust Advisors Inc. grew its position in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were 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 directly owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is owned by insiders.

Key Stories Impacting AppLovin

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

Analyst Upgrades and Downgrades

APP has been the topic of several research analyst reports. BTIG Research lowered their target price on shares of AppLovin from $574.00 to $408.00 and set a “buy” rating on the stock in a research note on Wednesday. Wedbush reduced their price target on shares of AppLovin from $640.00 to $610.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Weiss Ratings raised shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Finally, KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday, June 10th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $565.91.

AppLovin Price Performance

NASDAQ:APP opened at $315.44 on Friday. The business’s 50-day moving average price is $447.84 and its 200 day moving average price is $456.06. The firm has a market cap of $105.56 billion, a P/E ratio of 24.25, a PEG ratio of 0.63 and a beta of 2.54. AppLovin Corporation has a 52-week low of $303.17 and a 52-week high of $745.61. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11.

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

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.