UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in AppLovin Corporation $APP

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AppLovin Corporation (NASDAQ:APP) by 12.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,588,436 shares of the company’s stock after purchasing an additional 172,177 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AppLovin were worth $1,070,320,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of APP. Vanguard Group Inc. boosted its stake in shares of AppLovin by 39.4% during the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after acquiring an additional 7,051,663 shares in the last quarter. State Street Corp boosted its stake in shares of AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares in the last quarter. Norges Bank purchased a new stake in shares of AppLovin during the 4th quarter worth about $2,040,321,000. Capital Research Global Investors purchased a new stake in shares of AppLovin during the 3rd quarter worth about $743,899,000. Finally, Northern Trust Corp boosted its stake in shares of AppLovin by 46.8% during the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after acquiring an additional 756,660 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin News Roundup

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Oppenheimer lowered their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. KeyCorp set a $775.00 price target on shares of AppLovin in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Arete Research set a $340.00 price target on shares of AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $669.62.

AppLovin Trading Up 3.8%

APP opened at $496.77 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The company’s 50 day simple moving average is $482.88 and its two-hundred day simple moving average is $520.84. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The firm has a market capitalization of $166.88 billion, a price-to-earnings ratio of 42.68, a price-to-earnings-growth ratio of 0.78 and a beta of 2.45.

AppLovin (NASDAQ:APP) last released its earnings results 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. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $1.67 EPS. The business’s revenue was up 58.9% on a year-over-year basis. Analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the transaction, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 389,924 shares of company stock worth $187,404,946. 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.