AppLovin Corporation $APP Stock: Mather Group LLC. Increases Position

Mather Group LLC. boosted its position in shares of AppLovin Corporation (NASDAQ:APP) by 59.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,693 shares of the company’s stock after purchasing an additional 3,240 shares during the period. Mather Group LLC.’s holdings in AppLovin were worth $2,525,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sanders Morris Harris LLC acquired a new stake in shares of AppLovin during the third quarter valued at about $218,000. First Citizens Bank & Trust Co. increased its position in shares of AppLovin by 1,146.6% during the third quarter. First Citizens Bank & Trust Co. now owns 5,859 shares of the company’s stock worth $1,702,000 after acquiring an additional 5,389 shares during the last quarter. Signal Advisors Wealth LLC lifted its stake in shares of AppLovin by 937.6% in the third quarter. Signal Advisors Wealth LLC now owns 5,209 shares of the company’s stock worth $1,513,000 after acquiring an additional 4,707 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of AppLovin by 109.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,761 shares of the company’s stock worth $511,000 after acquiring an additional 920 shares in the last quarter. Finally, Sax Wealth Advisors LLC purchased a new position in AppLovin in the third quarter valued at about $1,205,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of recent analyst reports. Loop Capital lowered their price objective on AppLovin from $860.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, August 20th. Morgan Stanley dropped their price objective on AppLovin from $450.00 to $400.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup reaffirmed a “buy” rating and issued a $600.00 target price (down from $650.00) on shares of AppLovin in a research report on Friday, September 11th. The Goldman Sachs Group reduced their target price on AppLovin from $465.00 to $400.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Weiss Ratings cut AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $511.32.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Wedbush reported that advertiser checks showed spending remained steady during the third quarter, with potential e-commerce-driven growth in the fourth quarter. The firm views AppLovin as priced for market-share losses despite finding no clear evidence of that deterioration. AppLovin Q3 seen by Wedbush as key test of model update
• Positive Sentiment: AppLovin’s third-quarter earnings report, scheduled for November 4, provides a near-term catalyst. Its latest quarter showed revenue growth of approximately 53% year over year, supported by its advertising platform, while several institutional investors added shares in the second quarter. AppLovin rises as investors appear to buy the dip
• Positive Sentiment: Analysts continue to see substantial long-term upside. Wedbush maintained an “outperform” rating while lowering its price target to $560, citing a more achievable estimate baseline and potential upside from future execution. 3 Stocks That Prove the AI Trade Isn’t Over

AppLovin Stock Performance

Shares of AppLovin stock opened at $279.29 on Friday. The firm has a market cap of $93.46 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 0.55 and a beta of 2.56. The firm’s 50-day simple moving average is $306.77 and its 200-day simple moving average is $412.28. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. AppLovin Corporation has a 1 year low of $260.59 and a 1 year high of $738.01.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $3.76 EPS for the quarter, hitting the consensus estimate of $3.76. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company’s quarterly revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.39 earnings per share. Equities analysts forecast that AppLovin Corporation will post 15.67 earnings per share for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation is a technology company that provides software and services designed to help mobile application developers grow, monetize and analyze their businesses. Its platform supports user acquisition, advertising, in-app monetization and performance measurement for mobile apps.

The company’s products include MAX, a software platform that helps developers manage in-app advertising and maximize advertising revenue, as well as AppDiscovery, which supports app marketing and user acquisition.