AppLovin Corporation

(NASDAQ Global Select)
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Somewhat Bullish +35

Balboa Wealth Partners Acquires 2,490 Shares of AppLovin Corporation ...

AI-generated analysis

πŸ“ˆ Balboa Wealth Partners increased its AppLovin holdings by 22.3% in Q1, adding 2,490 shares to reach a total value of $5.4 million.

🏦 State Street Corp significantly raised its position by 111.1% in Q3, now holding over 11.8 million shares valued at $8.5 billion.

πŸ“‰ Corient Private Wealth LLC boosted its stake by 3,118.6% in Q4, acquiring an additional 4.06 million shares worth $2.8 billion.

🌍 Norges Bank and Capital Research Global Investors established new multi-billion dollar stakes in AppLovin during the fourth quarter.

πŸ“Š Institutional ownership of AppLovin reached 41.85% following recent accumulation by major asset managers.

πŸ’° AppLovin reported Q1 EPS of $3.56, beating analyst estimates of $3.44 and generating revenue of $1.84 billion.

πŸ“ˆ Revenue grew 58.9% year-over-year to $1.84 billion, with a net margin of 64.29% and ROE of 219.37%.

🎯 BTIG Research reaffirmed a 'buy' rating with a $640 price target for AppLovin shares.

πŸ“‰ Oppenheimer lowered its price objective to $660 while maintaining an 'outperform' rating on the stock.

πŸ›οΈ UBS Group cut its target price to $716 but kept a 'buy' rating following recent market analysis.

🀝 JPMorgan Chase lifted its price target to $515 and assigned a neutral rating to AppLovin.

πŸ’Έ Director Eduardo Vivas sold 163,910 shares for $82.6 million on June 16th, reducing his direct ownership.

πŸ‘” CEO Arash Adam Foroughi sold 33,042 shares for $16.1 million on June 11th, a 1.38% position decrease.

πŸ“‰ Insiders have collectively sold nearly 390,000 shares worth $195.7 million over the last three months.

πŸ“Š AppLovin trades at a PE ratio of 40.35 with a market capitalization of $157.79 billion.

πŸ“‰ The stock opened at $469.71, trading below its 50-day moving average of $492.23 and 200-day average of $517.06.

πŸ“ˆ AppLovin's 12-month trading range spans from a low of $320 to a high of $745.61.

πŸ› οΈ The company operates a data-driven advertising platform connecting app publishers and advertisers for user acquisition.

πŸ” Weiss Ratings lowered its rating from 'hold (c+)' to 'hold (c)' in a report dated May 7th.

πŸ“‰ MarketBeat aggregates an average analyst price target of $669.62 with a consensus 'Moderate Buy' rating.

Bullish Signals
  • AppLovin beat quarterly earnings estimates, reporting EPS of $3.56 versus the consensus of $3.44.
  • Revenue surged 58.9% year-over-year to reach $1.84 billion in the most recent quarter.
  • The company achieved a robust net margin of 64.29% and an exceptional return on equity of 219.37%.
  • Major institutional investors including State Street Corp, Norges Bank, and Capital Research Global Investors significantly increased their stakes.
  • BTIG Research maintains a 'buy' rating with a $640 price target, indicating confidence in the stock's upside.
  • JPMorgan Chase raised its price target to $515, reflecting continued institutional interest despite a neutral rating.
  • Institutional ownership stands at 41.85%, demonstrating strong confidence from large asset managers.
  • The company maintains a healthy balance sheet with a current ratio and quick ratio of 3.24.
Risk Factors
  • CEO Arash Adam Foroughi sold 33,042 shares for $16.1 million, representing a 1.38% decrease in his direct ownership.
  • Director Eduardo Vivas executed a significant sale of 163,910 shares worth $82.6 million on June 16th.
  • Insiders have collectively sold nearly 390,000 shares valued at $195.7 million over the last three months.
  • Oppenheimer lowered its price objective from $740 to $660, signaling some caution among analysts.
  • UBS Group reduced its price target from $740 to $716, though it retained a buy rating.
  • Weiss Ratings downgraded the stock from 'hold (c+)' to 'hold (c)', indicating a slight reduction in credit quality or outlook.
  • The stock is currently trading below its 50-day and 200-day simple moving averages at $469.71.
Full Analysis
AppLovin Corporation (NASDAQ:APP) recently saw significant institutional activity, with Balboa Wealth Partners increasing its stake by 22.3% to own 13,640 shares worth $5.4 million. Major investors including State Street Corp, Corient Private Wealth LLC, Norges Bank, Capital Research Global Investors, and Northern Trust Corp also expanded their positions in the third or fourth quarter, collectively driving institutional ownership to 41.85% of the company's stock. Analyst sentiment remains mixed but generally positive regarding the stock's valuation. BTIG Research maintained a 'buy' rating with a $640 price target, while Oppenheimer and UBS Group lowered their targets to $660 and $716 respectively, though both retained 'outperform' or 'buy' ratings. JPMorgan Chase raised its target to $515 with a neutral rating, and MarketBeat aggregates an average analyst price target of $669.62 based on a 'Moderate Buy' consensus. Financially, AppLovin reported strong quarterly results ending May 6th, beating earnings estimates of $3.44 per share with actual EPS of $3.56 and revenue of $1.84 billion, which exceeded the $1.77 billion forecast. Revenue grew 58.9% year-over-year to $1.84 billion, supported by a net margin of 64.29% and a return on equity of 219.37%. The company trades at a PE ratio of 40.35 with a market cap of $157.79 billion. Insider trading activity shows recent sales by key executives. Director Eduardo Vivas sold approximately 163,910 shares for $82.6 million on June 16th, reducing his direct ownership by 2.36%. CEO Arash Adam Foroughi sold 33,042 shares for $16.1 million on June 11th, a 1.38% decrease in his position. Over the last three months, insiders have collectively sold nearly 390,000 shares worth roughly $195.7 million, though they still retain 13.66% of the company's stock.