Burney Co. Lowers Stock Position in AppLovin Corporation $APP

Burney Co. trimmed its position in shares of AppLovin Corporation (NASDAQ:APP) by 35.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,171 shares of the company’s stock after selling 1,728 shares during the period. Burney Co.’s holdings in AppLovin were worth $1,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of AppLovin by 3,118.6% in the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock valued at $2,826,049,000 after purchasing an additional 4,063,763 shares in the last quarter. Norges Bank purchased a new stake in shares of AppLovin during the 4th quarter worth about $2,040,321,000. Capital Research Global Investors acquired a new stake in AppLovin during the 3rd quarter worth approximately $743,899,000. Finally, Northern Trust Corp increased its position in AppLovin by 46.8% during the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after purchasing an additional 756,660 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Down 1.1%

APP opened at $522.18 on Thursday. The firm’s 50 day moving average is $506.46 and its 200-day moving average is $500.51. AppLovin Corporation has a 52-week low of $332.32 and a 52-week high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $175.42 billion, a P/E ratio of 44.86, a P/E/G ratio of 0.85 and a beta of 2.49.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 earnings per share. Analysts expect that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

AppLovin News Roundup

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, suggesting upside from current levels. Benzinga report
• Positive Sentiment: Recent commentary highlighted AppLovin’s strong operating momentum, including 59% revenue growth in the latest quarter, expanding margins, and continued strength from its AI-driven ad platform. Seeking Alpha article
• Neutral Sentiment: Analysts and market commentary continue to debate whether AppLovin’s recent pullback has created a buying opportunity, with some noting the stock still trades at a premium valuation. Zacks article
• Negative Sentiment: Director Maynard G. Webb, Jr. sold 3,076 shares worth about $1.6 million, a transaction that may be read as insider caution even though he still owns a large stake. SEC filing
• Negative Sentiment: Bearish articles noted that AppLovin has been volatile after a strong multi-year run, and one piece suggested a downgrade could be near, which may be weighing on sentiment. Seeking Alpha article

Wall Street Analyst Weigh In

APP has been the topic of several research reports. Raymond James Financial started coverage on shares of AppLovin in a report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 price target on the stock. BTIG Research reissued a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, 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 report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $668.45.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the transaction, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. This represents a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 393,000 shares of company stock valued at $197,297,363. Insiders own 13.66% of the company’s stock.

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.