Janus Henderson Group PLC Sells 1,427,174 Shares of AppLovin Corporation $APP

Janus Henderson Group PLC trimmed its stake in shares of AppLovin Corporation (NASDAQ:APP) by 44.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,815,061 shares of the company’s stock after selling 1,427,174 shares during the period. Janus Henderson Group PLC owned approximately 0.54% of AppLovin worth $718,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC raised its stake in AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the last quarter. Finivi Inc. boosted its stake in shares of AppLovin by 3.2% in the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after buying an additional 22 shares during the last quarter. Alta Wealth Advisors LLC boosted its stake in shares of AppLovin by 0.6% in the 4th quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock worth $2,645,000 after buying an additional 24 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Finally, IMA Advisory Services Inc. grew its holdings in shares of 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 acquiring an additional 24 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Wedbush expects AppLovin to report second-quarter results above its own guidance, supported by continued strength in the company’s core advertising business. The firm also expects consumer-growth initiatives to take longer to develop, but views the underlying business momentum favorably. AppLovin Q2 Results Poised to Top Guidance, Consumer Growth Expected to Take Time, Wedbush Says
• Positive Sentiment: A bullish analysis argues that the market may be underestimating AppLovin’s fundamental strength. Potential upside drivers include a longer-than-expected gaming growth runway, expansion into additional verticals, and longer-term opportunities such as video streaming. AppLovin: The Market Continues To Underestimate Fundamental Strength
• Neutral Sentiment: AppLovin is scheduled to report earnings next week, with Wall Street expecting year-over-year earnings growth. The preview provides a potential catalyst, but the available analysis says the company lacks the typical combination of factors that would support a likely earnings beat, leaving expectations and guidance especially important. AppLovin Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: The stock recently outperformed the broader market during one trading session, indicating intermittent buying interest, although that short-term strength has not reversed the broader period of weakness. AppLovin Outpaces Stock Market Gains: What You Should Know
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AppLovin investors. Although the announcement does not establish wrongdoing, the legal inquiry adds headline, litigation and reputational risk to the stock. Investor Alert: Pomerantz Law Firm Investigates Claims on Behalf of Investors of AppLovin

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the company’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 completion of the transaction, the chief technology officer directly owned 3,189,739 shares in the company, valued at $1,545,173,366.38. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on APP shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Raymond James Financial began coverage on shares of AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. Finally, Wells Fargo & Company upped their target price on shares of AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $668.45.

AppLovin Stock Down 4.5%

NASDAQ APP opened at $399.46 on Thursday. The stock’s 50-day moving average price is $494.55 and its 200-day moving average price is $474.53. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 52 week low of $358.55 and a 52 week high of $745.61. The company has a market capitalization of $134.19 billion, a P/E ratio of 34.32, a price-to-earnings-growth ratio of 0.68 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $1.67 EPS. On average, equities research analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current year.

About AppLovin

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.