Fideuram Asset Management Ireland dac Makes New Investment in AppLovin Corporation $APP

Fideuram Asset Management Ireland dac purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,303 shares of the company’s stock, valued at approximately $7,616,000.

Other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its holdings in shares of AppLovin by 58.6% during the 3rd 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. increased its holdings in shares of AppLovin by 2.9% during the 4th 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 increased its holdings in shares of AppLovin by 5.7% during the 4th 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 increased its holdings in shares of AppLovin by 3.2% during the 3rd 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 increased its holdings in shares of AppLovin by 0.8% during the 3rd 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.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a report on Wednesday. Citigroup decreased their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. UBS Group decreased their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, The Goldman Sachs Group decreased their target price on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

AppLovin Stock Performance

NASDAQ:APP opened at $599.89 on Friday. The stock has a fifty day moving average price of $453.17 and a 200-day moving average price of $521.05. The company has a market cap of $201.53 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 0.92 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last released its earnings results 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 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 company’s revenue was up 58.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insider Activity

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

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.