AppLovin Corporation

(NASDAQ Global Select)
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Slightly Bullish +25

Aware Super Pty Ltd as trustee of Aware Super Makes New $16.30 Million ...

AI-generated analysis

πŸ“ˆ Aware Super Pty Ltd acquired a new position in AppLovin during Q1, purchasing 40,952 shares valued at approximately $16.3 million.

πŸ“‰ Westover Capital Advisors increased its stake by 70.4% to own 3,689 shares worth $1.47 million in the first quarter.

πŸ“Š KeyCorp set a price objective of $775 on AppLovin stock in a research report issued on June 10th.

πŸ“‰ UBS Group dropped its target price from $740 to $716 while maintaining a buy rating on the stock.

πŸ’° CFO Matthew Stumpf sold 9,052 shares for a total value of $5.43 million in a transaction on May 28th.

πŸ’° CEO Arash Adam Foroughi sold 33,042 shares for approximately $16.09 million in a transaction on June 11th.

πŸ“‰ Insiders sold a total of 393,000 shares worth nearly $197.3 million over the last ninety days.

🏒 AppLovin Corporation has a market capitalization of $145.96 billion and a P/E ratio of 37.33.

πŸ“ˆ Hedge funds and other institutional investors collectively own 41.85% of the company's outstanding stock.

πŸ“‰ The stock opened at $434.48 on Friday, trading between a one-year low of $343 and a high of $745.61.

Bullish Signals
  • Aware Super Pty Ltd established a new significant position in AppLovin during the first quarter, indicating institutional confidence.
  • Westover Capital Advisors increased its holdings by 70.4%, demonstrating strong bullish sentiment from a major investor.
  • KeyCorp set a high price objective of $775, suggesting potential upside for the stock.
  • Citigroup reaffirmed its buy rating on AppLovin shares, supporting positive analyst consensus.
  • Institutional ownership stands at 41.85%, indicating strong interest from hedge funds and other large investors.
Risk Factors
  • UBS Group lowered its price target from $740 to $716, signaling some caution among analysts.
  • JPMorgan Chase maintained a neutral rating despite raising its price objective, reflecting mixed sentiment.
  • CFO Matthew Stumpf sold 9,052 shares worth $5.43 million, representing a 4.85% decrease in his personal position.
  • CEO Arash Adam Foroughi sold 33,042 shares worth $16.09 million, reducing his direct ownership by 1.38%.
  • Insiders collectively sold 393,000 shares worth nearly $197.3 million in the last ninety days, which may indicate profit-taking or portfolio rebalancing.
Full Analysis
Aware Super Pty Ltd acquired a new position in AppLovin Corporation (NASDAQ:APP) during the first quarter, purchasing 40,952 shares valued at approximately $16.3 million. This move joins several other institutional investors who modified their holdings, including Quartz Partners LLC establishing a new stake and Westover Capital Advisors increasing its position by 70.4% to own roughly $1.47 million worth of stock. Analyst sentiment remains mixed but generally positive, with KeyCorp setting a $775 price objective and Citigroup reaffirming a buy rating. However, UBS Group lowered its target price from $740 to $716, while JPMorgan Chase raised its objective to $515 but maintained a neutral rating. MarketBeat data indicates an average analyst price target of $668.45 with a 'Moderate Buy' consensus. Insider trading activity shows significant selling by top executives in May and June. CFO Matthew Stumpf sold 9,052 shares for about $5.43 million, while CEO Arash Adam Foroughi sold 33,042 shares for approximately $16.09 million. In the last ninety days, insiders collectively sold 393,000 shares worth nearly $197.3 million, though they still retain a 13.66% ownership stake. AppLovin operates as a Palo Alto-based mobile technology company providing software and services to help app developers grow and monetize their businesses. The company utilizes a data-driven advertising platform connecting publishers and advertisers through SDKs to maximize revenue and engagement, with a current market capitalization of $145.96 billion.