Ethic Inc. Has $9.88 Million Stock Holdings in AppLovin Corporation $APP

Ethic Inc. increased its position in shares of AppLovin Corporation (NASDAQ:APP) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,177 shares of the company’s stock after acquiring an additional 2,525 shares during the quarter. Ethic Inc.’s holdings in AppLovin were worth $9,881,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of APP. State Street Corp grew its position in AppLovin by 111.1% during the third 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 in the last quarter. Corient Private Wealth LLC lifted its position in shares of AppLovin by 3,118.6% in the fourth quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after buying an additional 4,063,763 shares during the last quarter. Norges Bank bought a new stake in shares of AppLovin during the 4th quarter worth about $2,040,321,000. Northern Trust Corp lifted its stake in shares of AppLovin by 46.8% in the third quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after buying an additional 756,660 shares during the last quarter. Finally, Amundi boosted its holdings in shares of AppLovin by 81.3% during the 4th quarter. Amundi now owns 1,426,896 shares of the company’s stock worth $961,471,000 after buying an additional 639,836 shares during the period. 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:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the transaction, the director directly owned 120,444 shares of the company’s stock, valued at approximately $62,786,252.76. This represents a 2.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is currently owned by insiders.

AppLovin Price Performance

Shares of APP stock opened at $315.44 on Friday. The stock’s fifty day moving average is $447.84 and its 200-day moving average is $456.06. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The stock has a market capitalization of $105.56 billion, a PE ratio of 24.25, a PEG ratio of 0.63 and a beta of 2.54. AppLovin Corporation has a 52 week low of $303.17 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $2.39 earnings per share. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. Equities research analysts expect that AppLovin Corporation will post 15.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APP shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $357.00 price target (down from $575.00) on shares of AppLovin in a report on Thursday, August 6th. The Goldman Sachs Group dropped their target price on AppLovin from $585.00 to $465.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Wedbush cut their price target on shares of AppLovin from $640.00 to $610.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Needham & Company LLC reduced their price target on shares of AppLovin from $700.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, BTIG Research decreased their price objective on shares of AppLovin from $574.00 to $408.00 and set a “buy” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $565.91.

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.