AppLovin Corporation $APP Position Lowered by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP cut its stake in shares of AppLovin Corporation (NASDAQ:APP) by 33.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,613 shares of the company’s stock after selling 1,787 shares during the period. Fulcrum Asset Management LLP’s holdings in AppLovin were worth $1,049,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in AppLovin by 28.3% in the 2nd quarter. State Street Corp now owns 15,095,667 shares of the company’s stock worth $7,777,741,000 after buying an additional 3,328,338 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of AppLovin during the 2nd quarter valued at $730,015,000. Fundsmith LLP acquired a new position in shares of AppLovin in the second quarter worth $358,893,000. The Manufacturers Life Insurance Company increased its stake in shares of AppLovin by 409.6% in the second quarter. The Manufacturers Life Insurance Company now owns 776,097 shares of the company’s stock worth $399,868,000 after acquiring an additional 623,815 shares during the last quarter. Finally, AMF Tjanstepension AB increased its stake in shares of AppLovin by 843.2% in the third quarter. AMF Tjanstepension AB now owns 433,162 shares of the company’s stock worth $125,803,000 after acquiring an additional 387,237 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on APP shares. Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Piper Sandler restated a “neutral” rating and issued a $355.00 price objective (up from $325.00) on shares of AppLovin in a research note on Thursday, November 5th. HSBC dropped their target price on shares of AppLovin from $450.00 to $409.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Raymond James Financial cut their target price on shares of AppLovin from $640.00 to $590.00 in a research note on Thursday, August 6th. Finally, Jefferies Financial Group cut their target price on shares of AppLovin from $550.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $497.93.

AppLovin Stock Up 2.3%

APP stock opened at $404.77 on Thursday. AppLovin Corporation has a twelve month low of $225.19 and a twelve month high of $738.01. The company has a market cap of $135.46 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 0.80 and a beta of 2.51. The business’s 50-day simple moving average is $298.73 and its 200 day simple moving average is $408.06. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 1.07.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $4.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.27. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.07 billion. AppLovin had a return on equity of 182.97% and a net margin of 65.89%. The company’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.45 earnings per share. On average, research analysts anticipate that AppLovin Corporation will post 16.25 earnings per share for the current year.

More AppLovin News

These are some of the APP news items that stood out recently:

• Positive Sentiment: AppLovin’s third-quarter results showed strong growth: revenue rose 55.5% year over year to $2.18 billion, and the company also reported higher profit. Its fourth-quarter outlook exceeded analyst expectations, and it announced a larger share-repurchase plan. These results have helped drive the stock’s recent rally. Article: AppLovin Jumps on Strong Q3 Results
• Positive Sentiment: Coverage also points to continued opportunity from AppLovin’s AI-powered advertising tools and growing e-commerce advertiser spending, supporting the case for further growth if execution continues. Article: AppLovin: 3 Key Takeaways for Long-Term Investors
• Negative Sentiment: Several law firms highlighted a filed securities class action and the November 16 lead-plaintiff deadline. The complaint alleges AppLovin misrepresented the pace of AI-model improvements and the readiness or adoption of its self-service advertising tools. The claims remain allegations, but the litigation could add legal costs and weigh on investor confidence. Article: Levi & Korsinsky Class Action Reminder

AppLovin 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.