New Age Alpha Advisors LLC Takes $739,000 Position in AppLovin Corporation $APP

New Age Alpha Advisors LLC bought a new stake in AppLovin Corporation (NASDAQ:APP) during the 4th quarter, Holdings Channel reports. The fund bought 1,096 shares of the company’s stock, valued at approximately $739,000.

Several other hedge funds also recently modified their holdings of APP. Vanguard Group Inc. boosted its stake in shares of AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after purchasing an additional 7,051,663 shares during the last quarter. State Street Corp boosted its stake in shares of AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares during the last quarter. Capital Research Global Investors bought a new position in shares of AppLovin in the 3rd quarter valued at about $743,899,000. Northern Trust Corp boosted its stake in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock valued at $1,706,144,000 after purchasing an additional 756,660 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of AppLovin by 24.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock valued at $1,754,996,000 after acquiring an additional 487,492 shares during the period. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Scotiabank increased their price target on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Argus assumed coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. Finally, Oppenheimer cut their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $664.35.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. This trade represents a 1.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 454,964 shares of company stock worth $213,046,785. Company insiders own 13.66% 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

AppLovin Stock Performance

Shares of APP stock opened at $599.89 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market capitalization of $201.53 billion, a P/E ratio of 51.54, a price-to-earnings-growth ratio of 0.92 and a beta of 2.37. The company’s 50 day moving average price is $453.17 and its two-hundred day moving average price is $521.05. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion for 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% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. On average, analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

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.