25,046 AppLovin Corporation $APP Shares Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. grew its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 223.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,247 shares of the company’s stock after purchasing an additional 25,046 shares during the period. Phoenix Financial Ltd.’s holdings in AppLovin were worth $11,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Danske Bank A S lifted its position in shares of AppLovin by 65.8% during the third quarter. Danske Bank A S now owns 229,619 shares of the company’s stock worth $66,688,000 after purchasing an additional 91,164 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of AppLovin by 6.4% in the third quarter. Drive Wealth Management LLC now owns 1,151 shares of the company’s stock valued at $334,000 after purchasing an additional 69 shares in the last quarter. Ibex Wealth Advisors grew its holdings in shares of AppLovin by 0.5% in the third quarter. Ibex Wealth Advisors now owns 46,082 shares of the company’s stock valued at $13,384,000 after purchasing an additional 215 shares in the last quarter. Diversified Trust Co increased its stake in AppLovin by 78.9% during the 3rd quarter. Diversified Trust Co now owns 5,852 shares of the company’s stock worth $1,700,000 after buying an additional 2,580 shares during the period. Finally, Aberdeen Group plc increased its stake in AppLovin by 2,693.5% during the 3rd 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 period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about AppLovin

These are some of the APP headlines that stood out recently:

• 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
• Neutral Sentiment: A comparison of AppLovin with The Trade Desk highlights AppLovin’s AI-powered software, growth, and margins, but offers no new company-specific catalyst. Article: AppLovin vs. The Trade Desk
• Negative Sentiment: A Seeking Alpha article downgraded the stock, arguing valuation outweighs execution; this may temper enthusiasm after the recent rally. Article: AppLovin Valuation Trumps Execution

Analyst Ratings Changes

APP has been the topic of a number of research reports. Wedbush increased their target price on shares of AppLovin from $560.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Loop Capital dropped their price target on shares of AppLovin from $860.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, August 20th. Evercore reaffirmed an “outperform” rating and set a $510.00 price objective (down from $630.00) on shares of AppLovin in a research report on Tuesday, September 1st. HSBC cut their price objective on AppLovin from $450.00 to $409.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Finally, Benchmark reduced their price objective on AppLovin from $500.00 to $440.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $497.93.

AppLovin Stock Up 3.9%

Shares of APP traded up $15.42 during midday trading on Friday, reaching $409.10. The stock had a trading volume of 3,426,478 shares, compared to its average volume of 5,790,080. AppLovin Corporation has a 1-year low of $225.19 and a 1-year high of $738.01. The company’s fifty day simple moving average is $302.13 and its two-hundred day simple moving average is $406.68. The company has a market cap of $135.54 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 0.80 and a beta of 2.51. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.80 and a quick ratio of 3.80.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the business posted $2.45 EPS. The business’s revenue for the quarter was up 55.5% on a year-over-year basis. Equities research analysts expect that AppLovin Corporation will post 16.25 earnings per share for the current year.

AppLovin Company Profile

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.