Impact Partnership Wealth LLC Boosts Stake in AppLovin Corporation $APP

Impact Partnership Wealth LLC increased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 70.2% during the first quarter, Holdings Channel.com reports. The fund owned 3,472 shares of the company’s stock after buying an additional 1,432 shares during the period. Impact Partnership Wealth LLC’s holdings in AppLovin were worth $1,382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in AppLovin by 131.7% during the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares in the last quarter. APG Asset Management N.V. acquired a new stake in shares of AppLovin in the third quarter valued at about $4,958,000. Franklin Resources Inc. increased its stake in shares of AppLovin by 24.9% during the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock worth $1,754,996,000 after purchasing an additional 487,492 shares in the last quarter. Generate Investment Management Ltd purchased a new stake in shares of AppLovin during the fourth quarter worth about $2,347,000. Finally, Kinetic Partners Management LP raised its position in shares of AppLovin by 7.5% during the 3rd quarter. Kinetic Partners Management LP now owns 128,106 shares of the company’s stock worth $92,049,000 after purchasing an additional 8,930 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the transaction, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is owned by company insiders.

AppLovin Stock Performance

NASDAQ:APP opened at $515.23 on Wednesday. The company has a market cap of $173.09 billion, a P/E ratio of 44.26, a P/E/G ratio of 0.81 and a beta of 2.45. AppLovin Corporation has a twelve month low of $325.58 and a twelve month high of $745.61. The company’s 50-day moving average price is $498.42 and its 200-day moving average price is $506.70. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s revenue was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 EPS. On average, sell-side analysts forecast that AppLovin Corporation will post 15.97 earnings per share for the current fiscal year.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Raymond James initiated coverage on AppLovin with a Strong Buy rating and a $640 price target, implying meaningful upside from recent levels and helping support the stock. Benzinga reference
• Positive Sentiment: AppLovin opened its self-serve advertising platform to all advertisers, a move that could broaden adoption of its AI-driven ad tools and strengthen future revenue growth. PocketGamer.biz article
• Positive Sentiment: Several recent articles highlighted broadly constructive Wall Street sentiment toward AppLovin’s AI ad platform, reinforcing the bullish view that earnings and fundamentals remain strong. Yahoo Finance article
• Neutral Sentiment: AppLovin was also mentioned in a roundup of stocks making big moves, reflecting elevated trader attention but offering little new company-specific detail. Yahoo Finance roundup
• Negative Sentiment: Investors also noted that AppLovin’s CEO sold about $51 million of discretionary shares, which may raise questions about insider confidence even though insider selling does not necessarily reflect the business outlook. MarketBeat article

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Oppenheimer decreased their price target 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. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.27.

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.