AppLovin Corporation $APP Position Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its position in AppLovin Corporation (NASDAQ:APP) by 13.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,111 shares of the company’s stock after buying an additional 4,849 shares during the period. Illinois Municipal Retirement Fund’s holdings in AppLovin were worth $12,230,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of APP. Revolve Wealth Partners LLC boosted its stake in AppLovin by 2.8% in the second quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock valued at $438,000 after acquiring an additional 23 shares in the last quarter. IMA Advisory Services Inc. grew its holdings 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 last quarter. Sovran Advisors LLC grew its holdings in AppLovin by 5.7% in the first quarter. Sovran Advisors LLC now owns 517 shares of the company’s stock worth $206,000 after purchasing an additional 28 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in AppLovin by 3.6% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $347,000 after purchasing an additional 30 shares during the last quarter. Finally, Wall Street Financial Group Inc. increased its position in shares of AppLovin by 8.4% during the second quarter. Wall Street Financial Group Inc. now owns 389 shares of the company’s stock worth $200,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America lowered AppLovin from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $430.00 to $400.00 in a report on Tuesday, August 11th. Deutsche Bank dropped their target price on AppLovin from $660.00 to $580.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Phillip Securities raised AppLovin from a “moderate buy” rating to a “strong-buy” rating and reduced their target price for the company from $635.00 to $610.00 in a research report on Tuesday, August 11th. Oppenheimer reaffirmed an “outperform” rating and set a $520.00 target price (up from $490.00) on shares of AppLovin in a research report on Thursday, November 5th. Finally, Raymond James Financial decreased their price target on AppLovin from $640.00 to $590.00 in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $497.93.

AppLovin Stock Up 2.3%

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

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

Key Headlines Impacting AppLovin

Here are a few of the latest headlines 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

About AppLovin

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.