AppLovin Corporation $APP Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,588,436 shares of the company’s stock after purchasing an additional 172,177 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.47% of AppLovin worth $1,070,320,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Washington Trust Advisors Inc. increased its position in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of AppLovin during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of AppLovin during the fourth quarter worth $32,000. Graney & King LLC acquired a new position in shares of AppLovin during the third quarter worth $36,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of AppLovin during the fourth quarter worth $38,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin News Roundup

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

AppLovin Price Performance

Shares of APP opened at $496.77 on Friday. The business’s 50-day moving average is $482.88 and its two-hundred day moving average is $520.84. The company has a market capitalization of $166.88 billion, a P/E ratio of 42.68, a P/E/G ratio of 0.78 and a beta of 2.45. 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 announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion for 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 firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period last year, the firm earned $1.67 EPS. Research analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the sale, the director directly owned 123,520 shares of the company’s stock, valued at approximately $71,893,580.80. This trade represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 389,924 shares of company stock worth $187,404,946 in the last three months. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Citigroup reaffirmed a “buy” rating and set a $710.00 price target on shares of AppLovin in a research report on Monday, June 1st. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Argus began coverage on AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target on the stock. Finally, UBS Group cut their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

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.