Foundations Investment Advisors LLC Increases Position in AppLovin Corporation $APP

Foundations Investment Advisors LLC increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,098 shares of the company’s stock after buying an additional 1,103 shares during the quarter. Foundations Investment Advisors LLC’s holdings in AppLovin were worth $6,130,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. grew its holdings 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 last quarter. Chilton Capital Management LLC purchased a new stake in shares of AppLovin during the third quarter valued at $29,000. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin during the fourth quarter valued at $27,000. Activest Wealth Management grew its holdings in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. Piper Sandler boosted their price objective on shares of AppLovin from $650.00 to $665.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. UBS Group decreased their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of AppLovin in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

AppLovin Trading Up 5.6%

Shares of AppLovin stock opened at $599.89 on Friday. The firm has a 50-day simple moving average of $453.17 and a two-hundred day simple moving average of $521.05. The company has a market cap of $201.53 billion, a P/E ratio of 51.54, a price-to-earnings-growth ratio of 0.92 and a beta of 2.37. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s 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. As a group, equities analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 454,964 shares of company stock worth $213,046,785. Company insiders own 13.66% of the company’s stock.

AppLovin Company 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.