AppLovin Corp
At today's price, AppLovin Corp (APP) is priced for today's economics sustained for ~5.9 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• AppLovin runs an advertising-recommendation engine, Axon, whose economics show up in a single number: in FY2025 revenue rose 70% even though the volume of installations it delivered grew only 3%, because net revenue per installation climbed 72%, so the growth is coming from the engine getting smarter per ad rather than from buying more inventory. • The operating margin sits at 77%, among the highest in software, and the price now requires that the business keep compounding operating income at
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1,345 institutional managers reported holding APP in 13F filings for the quarter ended 2026-03-31. Together they hold about 62% of the company; the top 10 hold 33%. 125 opened new positions that quarter. Held by Vanguard Group, BlackRock, FMR (Fidelity), among others. On the short side, 12.8M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (2.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
APP's share count grew 0.5% over the past five years even with $5.65B spent on repurchases. It pays no dividend. Cash returned over the past three years: $4.74B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at APP over the trailing three years. Absence is a fact about the company, not a signal. 14 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
APP's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-10 | +23.8% | +6.7% |
| 2023-11-09 | -3.0% | +4.4% |
| 2024-02-27 | +27.6% | +16.4% |
| 2024-05-09 | +9.9% | -3.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
APP's latest 8-K filings: 2026-06-05 (items 5.07); 2026-05-06 (items 2.02, 9.01); 2026-04-07 (items 5.02, 7.01, 9.01); 2026-02-11 (items 2.02, 9.01); 2025-11-05 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 29, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.