AppLovin Corporation $APP Stock: Mather Group LLC. Raises Stake

Mather Group LLC. boosted its stake in AppLovin Corporation (NASDAQ:APP) by 59.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,693 shares of the company’s stock after buying an additional 3,240 shares during the period. Mather Group LLC.’s holdings in AppLovin were worth $2,525,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its holdings in shares of AppLovin by 3,118.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock valued at $2,826,049,000 after acquiring an additional 4,063,763 shares during the period. State Street Corp grew its position in shares of AppLovin by 28.3% during the second quarter. State Street Corp now owns 15,095,667 shares of the company’s stock worth $7,777,741,000 after acquiring an additional 3,328,338 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of AppLovin in the 2nd quarter worth about $730,015,000. Fundsmith LLP acquired a new stake in shares of AppLovin in the 2nd quarter worth about $358,893,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of AppLovin by 409.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 776,097 shares of the company’s stock worth $399,868,000 after acquiring an additional 623,815 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $279.29 on Friday. AppLovin Corporation has a one year low of $260.59 and a one year high of $738.01. The company has a 50-day moving average of $306.77 and a two-hundred day moving average of $412.28. The stock has a market cap of $93.46 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 0.55 and a beta of 2.56. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup reaffirmed a “buy” rating and set a $600.00 target price (down from $650.00) on shares of AppLovin in a research note on Friday, September 11th. Raymond James Financial cut their target price on AppLovin from $640.00 to $590.00 in a research report on Thursday, August 6th. Morgan Stanley decreased their price target on AppLovin from $450.00 to $400.00 and set an “overweight” rating for the company in a research note on Tuesday. Daiwa Securities Group lowered their price target on AppLovin from $569.00 to $345.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company lowered their price target on AppLovin from $357.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $511.32.

AppLovin News Summary

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 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.