13 High Growth Large Cap Stocks To Invest In

8. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 95

Average 5-Year Revenue Growth: 31.29%

AppLovin Corporation (NASDAQ:APP) ranks 8th on our list of the top high growth stocks to buy. It is a tech company that helps businesses market and monetize their apps. AppLovin’s platforms include AppDiscovery for ad placement, MAX for bidding, Adjust for analytics, and Wurl for streaming ad management. It also provides SparkLabs for app store optimization, AppLovin Exchange for ad buying, and Array for mobile app management.

In Q4 2024, AppLovin Corporation (NASDAQ:APP)’s revenue jumped 44% year-over-year to $1.37 billion and adjusted EBITDA soared 78% to $848 million, reaching a 62% margin. Free cash flow more than doubled to $695 million, up 105% from last year and 28% from last quarter. The advertising business was a major driver for AppLovin, especially in mobile gaming and eCommerce ads, bringing in $999 million in revenue. A temporary spike in data center costs slightly impacted margins, but things should level out moving forward. Recently, the company announced that it is selling its Apps business for $900 million: $500 million in cash and the rest as a minority equity stake in a private company. The deal is expected to close in Q1 2025, pending regulatory approval.

According to Insider Monkey’s fourth quarter database, 95 hedge funds were long AppLovin Corporation (NASDAQ:APP), a significant increase from the previous quarter, when 51 funds had invested in the stock. Rajiv Jain’s GQG Partners was the biggest position holder in the company, with a $2.7 billion stake.