AppLovin Corporation $APP Holdings Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of AppLovin Corporation (NASDAQ:APP) by 13.0% in the third quarter, HoldingsChannel reports. The firm owned 42,111 shares of the company’s stock after acquiring an additional 4,849 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in AppLovin were worth $12,230,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its holdings in AppLovin by 28.3% in the 2nd quarter. State Street Corp now owns 15,095,667 shares of the company’s stock worth $7,777,741,000 after buying an additional 3,328,338 shares during the period. WCM Investment Management LLC raised its position in AppLovin by 5.2% during the 1st quarter. WCM Investment Management LLC now owns 5,001,600 shares of the company’s stock worth $1,860,995,000 after buying an additional 245,290 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AppLovin by 7.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,735,471 shares of the company’s stock valued at $894,167,000 after acquiring an additional 121,605 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of AppLovin in the 2nd quarter valued at $730,015,000. Finally, Amundi increased its stake in shares of AppLovin by 19.5% in the second quarter. Amundi now owns 1,332,633 shares of the company’s stock worth $686,612,000 after acquiring an additional 217,214 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Recent AppLovin Headlines

These are some of the APP headlines that stood out recently:

• Positive Sentiment: AppLovin’s third-quarter results showed strong growth: revenue rose 55.5% year over year to $2.18 billion, and the company also reported higher profit. Its fourth-quarter outlook exceeded analyst expectations, and it announced a larger share-repurchase plan. These results have helped drive the stock’s recent rally. Article: AppLovin Jumps on Strong Q3 Results
• Positive Sentiment: Coverage also points to continued opportunity from AppLovin’s AI-powered advertising tools and growing e-commerce advertiser spending, supporting the case for further growth if execution continues. Article: AppLovin: 3 Key Takeaways for Long-Term Investors
• Negative Sentiment: Several law firms highlighted a filed securities class action and the November 16 lead-plaintiff deadline. The complaint alleges AppLovin misrepresented the pace of AI-model improvements and the readiness or adoption of its self-service advertising tools. The claims remain allegations, but the litigation could add legal costs and weigh on investor confidence. Article: Levi & Korsinsky Class Action Reminder

AppLovin Stock Performance

NASDAQ:APP opened at $404.77 on Thursday. The company has a fifty day moving average of $298.73 and a two-hundred day moving average of $408.06. AppLovin Corporation has a fifty-two week low of $225.19 and a fifty-two week high of $738.01. The stock has a market capitalization of $135.46 billion, a PE ratio of 27.24, a P/E/G ratio of 0.80 and a beta of 2.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.80 and a current ratio of 3.80.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.27. AppLovin had a net margin of 65.89% and a return on equity of 182.97%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the company earned $2.45 earnings per share. The company’s quarterly revenue was up 55.5% on a year-over-year basis. As a group, research analysts forecast that AppLovin Corporation will post 16.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on APP. Evercore reissued an “outperform” rating and set a $510.00 target price (down from $630.00) on shares of AppLovin in a report on Tuesday, September 1st. Raymond James Financial lowered their price target on shares of AppLovin from $640.00 to $590.00 in a report on Thursday, August 6th. William Blair set a $440.00 price target on AppLovin in a research report on Monday, August 17th. Jefferies Financial Group cut their price target on AppLovin from $550.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Finally, Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $497.93.

About AppLovin

AppLovin is a technology company that provides software to help mobile app developers and advertisers grow their businesses. Its platform connects advertisers seeking users with app publishers looking to monetize their audiences, using data and machine-learning tools to support advertising and user acquisition. The company’s products include AXON, its advertising optimization engine; AppDiscovery, which helps advertisers find and acquire users; and MAX, a platform for managing in-app advertising.