2,947 Shares in AppLovin Corporation $APP Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,947 shares of the company’s stock, valued at approximately $1,680,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC purchased a new stake in shares of AppLovin in the 1st quarter worth $25,000. Washington Trust Advisors Inc. increased its stake in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin in the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin in the fourth quarter valued at about $32,000. Finally, First Pacific Financial purchased a new stake in AppLovin in the first quarter worth about $33,000. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on APP shares. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Piper Sandler lowered shares of AppLovin from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $665.00 to $385.00 in a report on Thursday, August 6th. Wedbush lowered their price target on shares of AppLovin from $640.00 to $610.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday, June 10th. Finally, Raymond James Financial started coverage on shares of AppLovin in a report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price objective on the stock. Three investment 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $565.91.

AppLovin Stock Performance

Shares of AppLovin stock opened at $315.44 on Friday. The company has a market capitalization of $105.56 billion, a PE ratio of 24.25, a P/E/G ratio of 0.63 and a beta of 2.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The company has a 50-day simple moving average of $447.84 and a two-hundred day simple moving average of $456.06. AppLovin Corporation has a one year low of $303.17 and a one year high of $745.61.

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

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

Insider Activity at AppLovin

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the sale, the director directly owned 120,444 shares in the company, valued at $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 over the last three months. Company insiders own 12.81% of the company’s stock.

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.