New York Life Investment Management LLC Purchases 9,482 Shares of AppLovin Corporation $APP

New York Life Investment Management LLC grew its position in AppLovin Corporation (NASDAQ:APP) by 25.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 46,880 shares of the company’s stock after buying an additional 9,482 shares during the period. New York Life Investment Management LLC’s holdings in AppLovin were worth $13,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APP. Cassaday & Co Wealth Management LLC purchased a new stake in shares of AppLovin during the first quarter valued at approximately $25,000. Rachor Investment Advisory Services LLC bought a new stake in shares of AppLovin during the third quarter valued at approximately $25,000. Pioneer Family Office LLC purchased a new position in AppLovin in the 2nd quarter worth approximately $31,000. IMA Advisory Services Inc. raised its holdings in AppLovin by 40.0% in the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after acquiring an additional 24 shares during the last quarter. Finally, OFI Invest Asset Management raised its holdings in AppLovin by 16.3% in the 2nd quarter. OFI Invest Asset Management now owns 68,739 shares of the company’s stock worth $35,000 after acquiring an additional 9,615 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $404.77 on Thursday. The company has a 50 day moving average price of $298.73 and a 200-day moving average price of $408.06. AppLovin Corporation has a 52 week low of $225.19 and a 52 week high of $738.01. The firm 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 quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 1.07.

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

Wall Street Analysts Forecast Growth

APP has been the topic of several analyst reports. Scotiabank lowered their price objective on AppLovin from $515.00 to $450.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 5th. Royal Bank Of Canada lifted their target price on AppLovin from $500.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Wedbush lifted their target price on AppLovin from $560.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Citigroup decreased their price target on AppLovin from $600.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Finally, Wells Fargo & Company increased their price objective on AppLovin from $325.00 to $347.00 and gave the company an “equal weight” rating in a research report on Friday, November 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $497.93.

Key Headlines Impacting AppLovin

Here are a few of the latest headlines about APP:

• 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 Profile

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.