Epoch Investment Partners Inc. Boosts Holdings in AppLovin Corporation $APP

Epoch Investment Partners Inc. lifted its holdings in AppLovin Corporation (NASDAQ:APP) by 67.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,017 shares of the company’s stock after purchasing an additional 63,638 shares during the period. Epoch Investment Partners Inc.’s holdings in AppLovin were worth $62,891,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin in the fourth quarter worth $294,000. Bison Wealth LLC purchased a new position in AppLovin in the fourth quarter valued at $239,000. Integrated Wealth Concepts LLC increased its holdings in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after purchasing an additional 621 shares during the period. NewEdge Advisors LLC raised its position in AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of AppLovin by 7.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after buying an additional 9,380 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on APP shares. Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. UBS Group dropped their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Finally, KeyCorp set a $775.00 price target on 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $668.45.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $16,089,801.90. Following the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This represents a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 393,000 shares of company stock valued at $197,297,363. Corporate insiders own 12.81% of the company’s stock.

AppLovin Trading Down 1.7%

Shares of AppLovin stock opened at $391.98 on Friday. 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 fifty day simple moving average of $498.97 and a 200-day simple moving average of $480.08. The stock has a market cap of $131.68 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 0.65 and a beta of 2.49. AppLovin Corporation has a 12-month low of $357.03 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business earned $1.67 EPS. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. On average, equities analysts forecast that AppLovin Corporation will post 15.93 EPS for the current fiscal 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.