Evergreen Capital Management 13F: Adds $4.7M to APP Stake
Key Points
- Evergreen Capital Management added 16,262 shares to end with 23,888 shares of AppLovin Corporation APP worth about $6.94 million in its October 23, 2026 filing.
- AppLovin Corporation recently traded around $260.18, sitting well below its 52-week high of $738.01 as the company heads toward its November 4, 2026 earnings report.
- Wall Street firms including Oppenheimer and Morgan Stanley recently adjusted their price targets on the stock while maintaining generally positive ratings.
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Evergreen Capital Management boosted its stake in AppLovin Corporation APP by 213.2% during the third quarter, according to a Form 13F filing made public on October 23, 2026. The fund bought an additional 16,262 shares to bring its total holding to 23,888 shares. The reported value of the position stood at $6,937,793 as of the filing date.
APP
AppLovin Corporation
What Changed in Evergreen Capital Management's AppLovin Position
The firm expanded its investment significantly from the 7,626 shares it held previously. That 213.2% increase added substantial weight to the fund's exposure in the advertising technology provider. AppLovin shares closed at $260.25 on the day the filing was released.
Other Institutional Activity in AppLovin
Other large institutional holders adjusted their positions around the same time. Baillie Gifford & Co trimmed its holdings by 228,473 shares, ending the period with 6,471,615 shares valued at $1,684,237,803, marking a 3.4% decrease.
AppLovin Corporation Stock Down 2.9%
AppLovin recently traded around $260.18 as of October 24, 2026, putting the share price right near its 52-week low of $260.59 and well below its 52-week high of $738.01. The stock has faced downward momentum recently, trading below both its 50-day moving average of $300.99 and its 200-day moving average of $427.39. The company carries a market capitalization of roughly $88.78 billion and a trailing price-to-earnings ratio of 20.31.
Recent Earnings
AppLovin pulled in trailing twelve month revenue of $6,829,124,096 with earnings of $13.01 per share. The business reported a net profit margin of 64.6% and a return on equity of 203.7%. The next corporate earnings update is scheduled for November 4, 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
Company insiders completed several share transactions ahead of the filing period. Chief Executive Officer Arash Adam Foroughi sold 52,165 shares valued at $25,307,532 on June 12, 2026, and another 22,444 shares worth $11,158,868 on the same day. Director Eduardo Vivas disposed of 163,910 shares for $82,620,804 on June 16, 2026. Director Maynard George Webb Jr sold 3,076 shares worth $1,603,489 on July 6, 2026.
Analysts Set New Price Targets
Analyst firms adjusted their views on the stock through October 2026. On October 12, 2026, Oppenheimer maintained its Outperform rating while lowering its price target from $560.00 to $490.00. Morgan Stanley maintained an Overweight rating on October 13, 2026, adjusting its target from $450.00 to $400.00. Goldman Sachs maintained a Neutral rating on October 14, 2026, moving its target from $465.00 to $400.00. Wedbush kept an Outperform rating on October 14, 2026, lowering its target from $610.00 to $560.00. Citigroup maintained a Buy rating on October 19, 2026, trimming its target from $600.00 to $500.00. Across the street, the consensus recommendation stands at a buy with a mean target price of $476.85 from 31 analysts.
About AppLovin
AppLovin Corporation builds software and artificial intelligence tools that help businesses and mobile app developers find users and monetize digital advertising. Based in Palo Alto, California, the company operates across advertising and app segments to scale digital marketing campaigns globally.
Bottom Line
Evergreen Capital Management's larger stake joins a mixed backdrop of lower stock prices and reduced institutional positions from other massive funds. Investors will look toward the upcoming November earnings release to see if revenue growth and profit margins can regain traction.
Related Filing Alerts
Source: Evergreen Capital Management's 13F filing on $APP (Oct 23, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts