Royal London Asset Management Adds $59M in AppLovin Corporation ($APP)
The fund significantly boosted its holdings in AppLovin, adding over 114,000 shares.
Key Points
- Royal London Asset Management increased its stake in AppLovin by 95.3%, adding 114,748 shares to reach a total of 235,139 shares valued at $112.5 million as of its latest 13F filing.
- AppLovin shares trade near $478.28 with a market cap of $166.9 billion, a P/E ratio of 43.3, and a forward P/E of 22.7. The stock's 52-week range is $320.00 to $745.61.
- Recent insider transactions include CEO Adam Foroughi selling shares on multiple occasions, and analysts maintain strong buy ratings with price targets ranging from $515 to $750.
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Royal London Asset Management has significantly increased its investment in AppLovin Corporation (NasdaqGS: APP). According to its latest Form 13F filing with the SEC, the fund boosted its holdings by 95.3%, adding 114,748 shares. This brings its total to 235,139 shares, valued at approximately $112.5 million as of the reporting period.
What Changed in Royal London Asset Management's AppLovin Position
Royal London Asset Management's move reflects a substantial increase in confidence in AppLovin. Previously holding 120,391 shares, the fund now owns 235,139 shares after adding 114,748 shares. This increase represents a 95.3% rise in their holdings, with the position valued at around $112.5 million.
Other Institutional Activity in AppLovin
In the same period, several other institutional investors also adjusted their positions in AppLovin. BlackRock, Inc. reduced its holdings by 531,525 shares, leaving it with 23,640,172 shares valued at about $9.41 billion. Vanguard Capital Management LLC added 16,750,884 shares, bringing its total to 16,750,884 shares worth approximately $6.67 billion. FMR LLC increased its position by 2,600,386 shares, holding 15,691,414 shares valued at $6.25 billion. Meanwhile, Geode Capital Management, LLC increased its stake by 121,369 shares, reaching a total of 7,288,372 shares valued at $2.90 billion. Baillie Gifford & Co also added 533,783 shares, now holding 6,700,132 shares worth about $2.67 billion.
AppLovin Corporation Stock Up 62.4%
Shares of AppLovin Corporation (NasdaqGS: APP) traded near $478.28. The company boasts a market capitalization of $166.9 billion and a P/E ratio of 43.3, with a forward P/E of 22.7. AppLovin has a beta of 2.455, indicating higher volatility compared to the market. The stock's 52-week range is from $320.00 to $745.61, with a 50-day moving average of $484.22 and a 200-day moving average of $541.85. The company maintains a strong current ratio of 3.244 and a quick ratio of 3.156, though its debt-to-equity ratio stands at 162.888.
$APP stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
AppLovin reported revenue of $6.16 billion, with a growth rate of 59%. The company achieved a net margin of 64.29% and a return on equity of 2.66%. Earnings per share stood at $11.48. The next earnings report is scheduled for May 6, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 3.6%. Revenue beat estimates by 3.3%.
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Profit surprise
EBITDA met by 1 percent. Operating income beat by 7 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
4 target raises, 1 target cut.
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Earnings quality
Gross margin up 2.0 points. Operating margin up 5.7 points. Positive free cash flow.
Earnings Call Summary
AppLovin delivered 1.84 billion dollars in revenue, up 59 percent year over year, and beat guidance again. The gaming business remains strong while the consumer vertical is growing faster, with March spending 25 percent higher than January and April setting a record month. Management is excited about opening the platform to the public in June and seeing new game developers adopt ad monetization alongside in-app purchases.
Guidance AppLovin guided for 1.915 to 1.945 billion dollars in second-quarter revenue, up 52 to 55 percent year over year. They expect adjusted EBITDA margin around 84 to 85 percent. Management said the consumer vertical is accelerating fast and the June platform launch to the public will unlock much larger growth.
Solid report. Results were generally better than expected, but the forward outlook did not materially change.
Insider Buying and Selling at AppLovin Corporation
There have been notable insider transactions at AppLovin recently. CEO Adam Foroughi sold 41,667 shares on June 12, 2026, at an average price of $489.03. He also sold 41,666 shares on June 11 at $484.75 and 20,833 shares on June 10 at $503.91. Additionally, Victoria Valenzuela, the Chief Administrative Legal Officer and Corporate Secretary, sold 20,000 shares on June 4 at $565.89.
Analysts Set New Price Targets
Several analysts have recently updated their ratings for AppLovin. On May 7, 2026, Macquarie maintained a 'buy' rating with a price target of $730. UBS also maintained a 'buy' rating, setting the target at $750. JP Morgan held a 'hold' rating with a target of $515, while Wedbush reiterated a 'buy' rating with a target of $640. The consensus among 30 analysts is a 'strong buy', with a mean price target of $648.10.
About AppLovin Corporation
AppLovin Corporation provides AI-powered advertising solutions for businesses globally. The company operates through its Advertising and Apps segments, offering services such as Axon Ads Manager, MAX in-app bidding technology, Adjust measurement platform, and Wurl connected TV solutions. Headquartered in Palo Alto, California, AppLovin is led by CEO Adam Arash Foroughi and employs around 876 people.
Bottom Line
Royal London Asset Management's significant increase in its AppLovin holdings reflects a strong confidence in the company's performance. Investors keep an eye on such filings for insights into fund strategies, though it's important to remember these 13F filings are retrospective and may not indicate current positions. With strong institutional interest and positive analyst ratings, AppLovin remains a company to watch in the advertising technology sector.
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