Kovitz Investment Group Partners LLC Buys 26,599 Shares of AppLovin Corporation $APP

Kovitz Investment Group Partners LLC boosted its stake in AppLovin Corporation (NASDAQ:APP) by 389.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,426 shares of the company’s stock after purchasing an additional 26,599 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in AppLovin were worth $24,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of AppLovin by 39.4% in the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after buying an additional 7,051,663 shares in the last quarter. State Street Corp grew its holdings in AppLovin by 2.4% during the 2nd quarter. State Street Corp now owns 5,615,415 shares of the company’s stock valued at $1,965,844,000 after buying an additional 133,402 shares in the last quarter. Jennison Associates LLC increased its stake in AppLovin by 55.2% in the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after acquiring an additional 1,381,970 shares during the last quarter. Norges Bank purchased a new stake in shares of AppLovin during the 2nd quarter worth approximately $951,541,000. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of AppLovin during the 3rd quarter worth approximately $1,456,108,000. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APP. Wedbush increased their target price on AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 price target on shares of AppLovin in a research note on Thursday, February 12th. Evercore reissued a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Twenty-one equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $651.77.

Insider Buying and Selling

In related news, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the transaction, the director owned 2,829 shares in the company, valued at $1,961,402.28. The trade was a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 13.66% of the company’s stock.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Record results and margin strength are supporting sentiment — AppLovin reported a blowout quarter (record revenue, high margins, $3.24 EPS) that beats expectations and underpins bullish analyst commentary. AppLovin Stock Jumps. Why the Market’s Suddenly Excited About It.
• Positive Sentiment: Reports that AppLovin is pursuing its own social media/network product (after a failed TikTok bid) are being viewed as a potential growth/monetization lever, helping drive buying interest. AppLovin Stock Rallies After Rough Start To Year. Here’s Why.
• Positive Sentiment: Analysts and commentary pieces are turning bullish following the strong results, which supports a higher valuation narrative for a company that has evolved into a profitable ad platform. Analysts Bullish On AppLovin Corporation (APP) Outlook Following Impressive Results
• Neutral Sentiment: Macro/newsflow context: broader market conditions and upcoming economic releases are influencing trading; some market summaries highlight AppLovin among movers but focus is also on GDP and inflation data. 5 Things to Know Before the Stock Market Opens
• Neutral Sentiment: Short interest data reported in some feeds appears inconsistent/erroneous (zeros and NaN), so don’t treat those prints as a reliable signal for squeeze risk. (Data posted 2/18–2/19).
• Negative Sentiment: Regulatory risk: Bloomberg reports the SEC’s investigation into AppLovin remains active — this ongoing probe raises uncertainty and could pressure sentiment until resolved. SEC probe involving AppLovin still active, Bloomberg News reports
• Negative Sentiment: Despite its best quarter, the stock endured a sharp pullback recently — analysts and pieces flag competition (Meta, others) and sector weakness as reasons the market punished shares, highlighting execution and competitive risk. How Low Can AppLovin Stock Go? APP Declines 29% in a Month

AppLovin Trading Up 1.6%

APP stock opened at $418.68 on Monday. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The stock has a market capitalization of $141.49 billion, a price-to-earnings ratio of 42.94, a price-to-earnings-growth ratio of 0.86 and a beta of 2.49. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The firm’s fifty day simple moving average is $566.47 and its two-hundred day simple moving average is $573.74.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 EPS. As a group, analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.