Fideuram Asset Management Ireland dac Acquires New Shares in AppLovin Corporation $APP

Fideuram Asset Management Ireland dac bought a new stake in AppLovin Corporation (NASDAQ:APP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,303 shares of the company’s stock, valued at approximately $7,616,000.

Several other institutional investors have also recently bought and sold shares of the business. CBIZ Investment Advisory Services LLC lifted its holdings in shares of AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after acquiring an additional 18 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after acquiring an additional 20 shares during the last quarter. Finally, Strategic Advocates LLC lifted its holdings in shares of AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on APP. The Goldman Sachs Group dropped their target price on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Argus began coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. Scotiabank increased their target price on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $664.35.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

AppLovin Price Performance

AppLovin stock opened at $599.89 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $201.53 billion, a PE ratio of 51.54, a P/E/G ratio of 0.92 and a beta of 2.37. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The stock has a 50-day moving average price of $453.17 and a two-hundred day moving average price of $521.05.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period last year, the company earned $1.67 earnings per share. Analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the sale, the chief executive officer owned 2,430,414 shares of the company’s stock, valued at approximately $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the sale, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 454,964 shares of company stock valued at $213,046,785. Company insiders own 13.66% of the company’s stock.

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.