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

USS Investment Management Ltd lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 269.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,818 shares of the company’s stock after purchasing 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 quarter.

Several other institutional investors have also modified their holdings of the business. Redhawk Wealth Advisors Inc. raised its holdings in AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after buying an additional 18 shares during the period. Verdence Capital Advisors LLC lifted its stake in AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after buying an additional 18 shares in the last quarter. Claro Advisors LLC boosted its holdings in shares of AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares during the period. Strategic Advocates LLC boosted its holdings in shares of AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after buying an additional 21 shares during the period. Finally, Finivi Inc. increased its position in shares of AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after acquiring an additional 22 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the transaction, the chief financial officer directly 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 90 days, insiders 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

APP has been the topic of a number of research analyst reports. Piper Sandler restated an “overweight” rating on shares of AppLovin in a report on Tuesday, June 9th. UBS Group lowered their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Finally, BTIG Research restated a “buy” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $668.27.

AppLovin Stock Performance

Shares of APP 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 firm has a fifty day simple moving average of $498.42 and a 200 day simple moving average of $506.70. The stock 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. 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 (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. Research analysts forecast that AppLovin Corporation will post 15.97 EPS 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

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.