5,398 AppLovin Corporation $APP Shares Purchased by Westside Investment Management Inc.

Westside Investment Management Inc. grew its stake in AppLovin Corporation (NASDAQ:APP) by 631.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,253 shares of the company’s stock after purchasing an additional 5,398 shares during the quarter. Westside Investment Management Inc.’s holdings in AppLovin were worth $1,816,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Kestra Advisory Services LLC raised its holdings in shares of AppLovin by 113.2% in the third quarter. Kestra Advisory Services LLC now owns 20,250 shares of the company’s stock valued at $5,881,000 after purchasing an additional 10,753 shares during the last quarter. Claro Advisors Inc. lifted its position in shares of AppLovin by 77.8% during the third quarter. Claro Advisors Inc. now owns 1,179 shares of the company’s stock valued at $342,000 after purchasing an additional 516 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in AppLovin by 112.0% during the third quarter. Commonwealth Equity Services LLC now owns 46,828 shares of the company’s stock worth $13,600,000 after purchasing an additional 24,744 shares during the last quarter. Hahn Capital Management LLC purchased a new position in AppLovin during the third quarter worth about $6,972,000. Finally, Chicago Partners Investment Group LLC grew its position in AppLovin by 22.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,371 shares of the company’s stock worth $877,000 after purchasing an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin reported third-quarter revenue of $2.18 billion, up 55.5% year over year, and earnings of $4.30 per share, beating analyst estimates. Net income also rose 72% to about $1.44 billion. AppLovin stock soars after Q3 earnings, outlook beat
• Positive Sentiment: The company forecast fourth-quarter revenue of $2.365 billion to $2.395 billion, above analysts’ expectations. Management said its AI-powered advertising model rollout is continuing, supporting optimism about further growth. AppLovin forecasts Q4 revenue as model rollout continues
• Positive Sentiment: Strong cash generation bolstered investor confidence: reports cited about $1.4 billion in free cash flow, and AppLovin expanded its share-repurchase authorization to $3.6 billion. RBC also raised its price target to $520 and maintained an outperform rating. AppLovin earnings and buyback
• Neutral Sentiment: Analysts welcomed the quarter but noted that longer-term growth visibility remains uncertain as the AI advertising tools continue to roll out. BofA comments on AppLovin’s Q3 beat
• Negative Sentiment: A securities class action and related law-firm notices remain an overhang. The lawsuit alleges AppLovin misrepresented the readiness and adoption of its AI models and self-service ad tools; the claims are allegations, not established findings. AppLovin securities class-action notice

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Benchmark decreased their price objective on shares of AppLovin from $500.00 to $440.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Wedbush boosted their target price on AppLovin from $560.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday. Loop Capital cut their target price on AppLovin from $860.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, August 20th. Bank of America lowered AppLovin from a “buy” rating to a “neutral” rating and reduced their target price for the company from $430.00 to $400.00 in a report on Tuesday, August 11th. Finally, Weiss Ratings raised AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $497.14.

AppLovin Stock Performance

NASDAQ APP opened at $356.10 on Friday. AppLovin Corporation has a 52-week low of $225.19 and a 52-week high of $738.01. The company has a 50-day simple moving average of $291.78 and a 200 day simple moving average of $410.78. 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 market capitalization of $119.17 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 0.60 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, topping the consensus estimate of $4.03 by $0.27. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.07 billion. AppLovin had a net margin of 65.89% and a return on equity of 196.31%. The company’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.45 earnings per share. On average, research analysts predict that AppLovin Corporation will post 15.61 EPS for the current year.

About AppLovin

AppLovin Corporation is a technology company that provides software and services designed to help mobile application developers grow, monetize and operate their businesses. Its platform supports user acquisition, advertising, mediation, analytics and other functions across the mobile app ecosystem.

The company’s principal products include AppDiscovery, which helps developers market their applications and acquire users; MAX, an in-app bidding and monetization platform; and its AXON technology, an artificial intelligence-powered engine intended to improve advertising performance and match users with relevant applications and content.