Geode Capital Management LLC Has $4.82 Billion Holdings in AppLovin Corporation $APP

Geode Capital Management LLC lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,167,003 shares of the company’s stock after buying an additional 448,005 shares during the period. Geode Capital Management LLC’s holdings in AppLovin were worth $4,817,269,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after buying an additional 166,117 shares in the last quarter. State Street Corp increased its holdings in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Invesco Ltd. increased its holdings in shares of AppLovin by 9.4% during the third quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after buying an additional 367,083 shares in the last quarter. Kensico Capital Management Corp increased its holdings in shares of AppLovin by 3.1% during the third quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock worth $2,240,767,000 after buying an additional 95,000 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of AppLovin by 0.3% during the third quarter. Capital World Investors now owns 2,635,188 shares of the company’s stock worth $1,893,477,000 after buying an additional 8,864 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday. Oppenheimer decreased their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Wedbush restated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $664.35.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and a $720 price target on AppLovin, helping push the stock sharply higher as investors reacted to the upgraded bullish tone. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Reports also said Meta Platforms is not expected to bid on certain mobile ad traffic, which could leave more market share and pricing opportunity for AppLovin in mobile advertising. AppLovin (APP) Stock Trades Up, Here Is Why
• Neutral Sentiment: Additional market chatter highlighted AppLovin as one of the stocks making big moves and one of the day’s top performers, reinforcing the momentum behind the shares. Stocks making big moves yesterday: Allient, AutoZone, Redwire, Marvell Technology, and AppLovin
• Negative Sentiment: AppLovin CTO Vasily Shikin disclosed multiple stock sales totaling tens of thousands of shares at prices around the mid-$480s, trimming his holdings by a meaningful amount; insider selling can sometimes weigh on sentiment. Vasily Shikin insider transaction filings

AppLovin Stock Performance

NASDAQ APP opened at $567.83 on Thursday. The company has a market capitalization of $190.76 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 0.84 and a beta of 2.37. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The stock has a fifty day simple moving average of $450.35 and a 200 day simple moving average of $521.20. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 earnings per share. Sell-side analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer owned 2,430,414 shares of the company’s stock, valued at approximately $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the sale, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 454,964 shares of company stock valued at $213,046,785. 13.66% of the stock is currently owned by insiders.

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.