AppLovin Corporation $APP Shares Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board increased its position in AppLovin Corporation (NASDAQ:APP) by 23.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,700 shares of the company’s stock after buying an additional 3,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in AppLovin were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of APP. Revolve Wealth Partners LLC raised its stake in shares of AppLovin by 2.8% during the second quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock worth $438,000 after acquiring an additional 23 shares in the last quarter. IMA Advisory Services Inc. boosted its stake in shares of AppLovin by 40.0% in the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock valued at $33,000 after purchasing an additional 24 shares in the last quarter. Sovran Advisors LLC boosted its stake in shares of AppLovin by 5.7% in the 1st quarter. Sovran Advisors LLC now owns 517 shares of the company’s stock valued at $206,000 after purchasing an additional 28 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of AppLovin by 3.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $347,000 after purchasing an additional 30 shares in the last quarter. Finally, Wall Street Financial Group Inc. grew its holdings in shares of AppLovin by 8.4% during the 2nd quarter. Wall Street Financial Group Inc. now owns 389 shares of the company’s stock valued at $200,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $404.77 on Thursday. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average of $298.73 and a 200-day moving average of $408.06. The firm has a market cap of $135.46 billion, a P/E ratio of 27.24, a P/E/G ratio of 0.80 and a beta of 2.51. AppLovin Corporation has a 1-year low of $225.19 and a 1-year high of $738.01.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 4th. The company reported $4.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.27. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.07 billion. AppLovin had a return on equity of 182.97% and a net margin of 65.89%. AppLovin’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period last year, the firm earned $2.45 earnings per share. Sell-side analysts expect that AppLovin Corporation will post 16.25 EPS for the current year.

Key Headlines Impacting AppLovin

These are some of the APP headlines 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

Analysts Set New Price Targets

A number of brokerages recently commented on APP. Morgan Stanley decreased their target price on shares of AppLovin from $450.00 to $400.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. The Goldman Sachs Group upped their price target on shares of AppLovin from $400.00 to $445.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. Raymond James Financial cut their price target on shares of AppLovin from $640.00 to $590.00 in a research report on Thursday, August 6th. Weiss Ratings raised AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Finally, HSBC decreased their price objective on AppLovin from $450.00 to $409.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $497.93.

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.