Fifth Third Bancorp Increases Stock Holdings in AppLovin Corporation $APP

Fifth Third Bancorp increased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 662.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,665 shares of the company’s stock after buying an additional 40,542 shares during the quarter. Fifth Third Bancorp’s holdings in AppLovin were worth $18,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Board of the Pension Protection Fund purchased a new position in AppLovin during the fourth quarter worth approximately $27,000. Washington Trust Advisors Inc. grew its stake in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the period. Mcguire Capital Advisors Inc. purchased a new stake in shares of AppLovin during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin during the 4th quarter worth $32,000. Finally, First Pacific Financial acquired a new stake in shares of AppLovin during the 1st quarter worth $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. 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. Insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. KeyCorp set a $775.00 price target on AppLovin in a research note on Wednesday, June 10th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a report on Tuesday, July 7th. Wedbush restated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $668.45.

AppLovin Stock Down 12.6%

Shares of AppLovin stock opened at $442.85 on Tuesday. AppLovin Corporation has a twelve month low of $342.11 and a twelve month high of $745.61. The stock has a market cap of $148.77 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 0.82 and a beta of 2.49. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a fifty day moving average price of $509.09 and a 200 day moving average price of $495.49.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $1.67 earnings per share. The firm’s revenue was up 58.9% compared to the same quarter last year. Equities research analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Wells Fargo raised its price target on AppLovin to $575 from $571 and kept an Overweight rating, reinforcing a constructive long-term view on the stock. Wells Fargo Raises PT on AppLovin (APP) Stock
• Positive Sentiment: Some market commentary said the pullback in APP looks “overdone,” suggesting investors may be overreacting to short-term concerns around the e-commerce expansion. AppLovin’s Ecommerce Growth Soft In June, Says BofA Citing Third-Party Data – Retail Views Current Selloff In APP Stock ‘Overdone’
• Neutral Sentiment: AppLovin continues to be discussed as an AI-driven ad tech company expanding beyond mobile gaming into e-commerce advertising, which remains a longer-term strategic theme. How AppLovin (APP) Is Using AI to Expand Beyond Mobile Gaming Into E-Commerce Advertising
• Negative Sentiment: Analyst notes and media coverage point to softer June e-commerce ad growth and weakness in mobile game ad checks, raising questions about near-term momentum in AppLovin’s ad business. AppLovin stock slides after analyst note on e-commerce ads rollout
• Negative Sentiment: The stock also appears to be getting hit by a broader rotation out of high-beta growth names, amplifying the decline beyond company-specific news. Applovin Stock Is Trending: A Key Level Just Came Into Play

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.