New York Life Investment Management LLC Buys 9,482 Shares of AppLovin Corporation $APP

New York Life Investment Management LLC raised its position in shares of AppLovin Corporation (NASDAQ:APP) by 25.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,880 shares of the company’s stock after acquiring an additional 9,482 shares during the quarter. New York Life Investment Management LLC’s holdings in AppLovin were worth $13,615,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Pioneer Family Office LLC bought a new position in shares of AppLovin in the 2nd quarter worth approximately $31,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of AppLovin during the first quarter valued at approximately $25,000. LifeSteps Financial Inc. bought a new stake in shares of AppLovin during the second quarter valued at approximately $40,000. Archer Investment Corp bought a new stake in shares of AppLovin during the second quarter valued at approximately $42,000. Finally, IMA Advisory Services Inc. grew its stake in AppLovin by 40.0% in the first quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after purchasing an additional 24 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

AppLovin stock opened at $404.77 on Thursday. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $135.46 billion, a P/E ratio of 27.24, a PEG ratio of 0.80 and a beta of 2.51. The stock’s 50 day moving average is $298.73 and its 200 day moving average is $408.06. AppLovin Corporation has a twelve month low of $225.19 and a twelve month high of $738.01.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $4.30 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.27. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.07 billion. AppLovin had a return on equity of 182.97% and a net margin of 65.89%. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter last year, the company earned $2.45 EPS. On average, equities research analysts predict that AppLovin Corporation will post 16.25 earnings per share for the current fiscal year.

Key Stories Impacting AppLovin

Here are a few of the latest stories about APP:

• 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

Analyst Ratings Changes

APP has been the subject of a number of research reports. Evercore reiterated an “outperform” rating and issued a $510.00 price objective (down from $630.00) on shares of AppLovin in a report on Tuesday, September 1st. Scotiabank lowered their price objective on AppLovin from $515.00 to $450.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 5th. Loop Capital dropped their target price on shares of AppLovin from $860.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, August 20th. Needham & Company LLC restated a “buy” rating and set a $475.00 target price on shares of AppLovin in a report on Thursday, November 5th. Finally, Benchmark reduced their target price on shares of AppLovin from $500.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Three research 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 stock has an average rating of “Moderate Buy” and a consensus price target of $497.93.

AppLovin Company 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.