LGT Fund Management Co Ltd. Invests $4.73 Million in AppLovin Corporation $APP

LGT Fund Management Co Ltd. bought a new position in shares of AppLovin Corporation (NASDAQ:APP) in the 1st quarter, HoldingsChannel.com reports. The firm bought 11,890 shares of the company’s stock, valued at approximately $4,732,000.

Several other hedge funds also recently added to or reduced their stakes in APP. Allworth Financial LP increased its position in shares of AppLovin by 131.7% during the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock worth $4,347,000 after purchasing an additional 3,438 shares in the last quarter. Generate Investment Management Ltd acquired a new stake in shares of AppLovin in the 4th quarter valued at about $2,347,000. Kinetic Partners Management LP grew its stake in 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 buying an additional 8,930 shares during the last quarter. Calamos Advisors LLC increased its position in AppLovin by 73.3% during the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock worth $32,840,000 after buying an additional 20,609 shares during the period. Finally, Capricorn Fund Managers Ltd purchased a new stake in AppLovin in the fourth quarter valued at approximately $4,043,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of AppLovin stock traded down $13.45 on Friday, reaching $506.98. 3,490,995 shares of the stock were exchanged, compared to its average volume of 5,158,602. The firm has a market capitalization of $170.31 billion, a PE ratio of 43.55, a PEG ratio of 0.82 and a beta of 2.49. AppLovin Corporation has a 1-year low of $332.32 and a 1-year high of $745.61. The business has a fifty day moving average price of $509.16 and a two-hundred day moving average price of $499.15. 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 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The firm’s revenue was up 58.9% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction 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 completion of the transaction, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 33,042 shares of AppLovin stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 393,000 shares of company stock worth $197,297,363. 13.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APP. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. UBS Group decreased their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research report on Wednesday, June 10th. Argus initiated coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective on the stock. Finally, BTIG Research reaffirmed a “buy” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $668.45.

AppLovin News Roundup

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Jefferies survey data suggests AppLovin is gaining e-commerce ad share as advertisers expand platform use, with its share of advertiser budgets rising to 11.1%, reinforcing the view that its ad tech is still taking share. Article on Jefferies survey and budget share gains
• Positive Sentiment: Analysts remain constructive, with BTIG reaffirming a Buy rating and a $640 price target, while other reports point to AppLovin’s strong earnings execution, revenue growth, and expanding margins. BTIG price target and earnings outlook article
• Positive Sentiment: Market commentary highlights that investors are closely watching AppLovin’s growth story, which can support momentum when sentiment around AI and ad-tech leaders is strong. Zacks article on investor interest
• Neutral Sentiment: Short-interest data showed no reported short interest as of July 10, so this update does not appear to signal meaningful bearish positioning.
• Negative Sentiment: Director Maynard G. Webb, Jr. sold 3,076 shares worth about $1.6 million, which may weigh on sentiment even though he still retains a large position. SEC filing on insider sale
• Negative Sentiment: New reporting raised questions about political donations and Chinese investor ties, introducing potential reputational and geopolitical overhangs for AppLovin (APP). Yahoo Finance article on political donations and investor ties

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.