Plato Investment Management Ltd Purchases Shares of 4,966 AppLovin Corporation $APP

Plato Investment Management Ltd acquired a new position in AppLovin Corporation (NASDAQ:APP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,966 shares of the company’s stock, valued at approximately $2,544,000.

Other hedge funds also recently modified their holdings of the company. Washington Trust Advisors Inc. increased its holdings in AppLovin by 160.0% in the 4th 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 period. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin during the 4th quarter worth about $32,000. Osbon Capital Management LLC acquired a new stake in shares of AppLovin during the 4th quarter worth about $36,000. Finally, Dogwood Wealth Management LLC lifted its holdings in AppLovin by 84.4% during the 4th quarter. Dogwood Wealth Management LLC now owns 59 shares of the company’s stock valued at $40,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

AppLovin stock opened at $315.44 on Monday. The business’s 50-day simple moving average is $447.84 and its 200 day simple moving average is $455.50. The stock has a market cap of $105.56 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 0.63 and a beta of 2.54. AppLovin Corporation has a 12-month low of $303.17 and a 12-month high of $745.61. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $2.39 earnings per share. AppLovin’s revenue for the quarter was up 52.8% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin Corporation will post 15.57 earnings per share for the current year.

Insider Activity

In other news, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the transaction, the insider owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at $1,153,755,469.45. This represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 393,000 shares of company stock valued at $197,297,363. Company insiders own 12.81% of the company’s stock.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on APP. Needham & Company LLC dropped their price objective on shares of AppLovin from $700.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, August 6th. KeyCorp set a $775.00 price target on AppLovin in a research report on Wednesday, June 10th. UBS Group dropped their price target on AppLovin from $798.00 to $790.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Phillip Securities upgraded AppLovin from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Raymond James Financial initiated coverage on AppLovin in a research note on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $565.91.

About AppLovin

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.