AppLovin Corporation $APP Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its position in shares of AppLovin Corporation (NASDAQ:APP) by 44.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,504 shares of the company’s stock after purchasing an additional 5,711 shares during the period. Maryland State Retirement & Pension System’s holdings in AppLovin were worth $5,374,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of AppLovin by 28.3% in the 2nd quarter. State Street Corp now owns 15,095,667 shares of the company’s stock valued at $7,777,741,000 after buying an additional 3,328,338 shares in the last quarter. Bank of New York Mellon Corp bought a new position in AppLovin during the second quarter valued at approximately $730,015,000. Fundsmith LLP bought a new position in AppLovin during the second quarter valued at approximately $358,893,000. The Manufacturers Life Insurance Company lifted its stake in AppLovin by 409.6% in the second quarter. The Manufacturers Life Insurance Company now owns 776,097 shares of the company’s stock valued at $399,868,000 after acquiring an additional 623,815 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its stake in AppLovin by 843.2% in the third quarter. AMF Tjanstepension AB now owns 433,162 shares of the company’s stock valued at $125,803,000 after acquiring an additional 387,237 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Top AppLovin Stories

Here are a few of the latest stories about APP:

• Positive Sentiment: Recent coverage highlighted strong third-quarter results, including revenue growth of about 55%, and fourth-quarter guidance above expectations. The company also announced a larger share-repurchase plan, providing support for the bullish case. AppLovin (APP) Jumps On Strong Q3 Results, Is The Stock Still Cheap?
• Negative Sentiment: Several law firms publicized a pending securities class action and the November 16 lead-plaintiff deadline. The lawsuit alleges that AppLovin’s statements about the progress and adoption of its AI models and self-service advertising tools were misleading; these are allegations, not findings. The legal overhang may weigh on sentiment. AppLovin Investors Alert
• Negative Sentiment: A Seeking Alpha article downgraded the stock, arguing that valuation concerns outweigh the company’s execution—another potential headwind after the recent rally. AppLovin: Valuation Trumps Execution (Rating Downgrade)

AppLovin Stock Down 2.7%

APP opened at $393.68 on Friday. The firm has a market cap of $131.75 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 0.82 and a beta of 2.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.80 and a current ratio of 3.80. The business has a 50 day moving average price of $300.22 and a 200 day moving average price of $407.35. AppLovin Corporation has a twelve month low of $225.19 and a twelve month high of $738.01.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, beating the consensus estimate of $4.03 by $0.27. AppLovin had a return on equity of 182.97% and a net margin of 65.89%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company posted $2.45 earnings per share. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. Research analysts forecast that AppLovin Corporation will post 16.25 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup decreased their target price on shares of AppLovin from $600.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 19th. The Goldman Sachs Group raised their price target on shares of AppLovin from $400.00 to $445.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. William Blair set a $440.00 price objective on shares of AppLovin in a research note on Monday, August 17th. Benchmark decreased their price objective on shares of AppLovin from $500.00 to $440.00 and set a “buy” rating for the company in a report on Monday, August 17th. Finally, Weiss Ratings raised shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $497.93.

AppLovin Company Profile

AppLovin is a technology company that provides software to help mobile app developers and advertisers grow their businesses. Its platform connects advertisers seeking users with app publishers looking to monetize their audiences, using data and machine-learning tools to support advertising and user acquisition. The company’s products include AXON, its advertising optimization engine; AppDiscovery, which helps advertisers find and acquire users; and MAX, a platform for managing in-app advertising.