AppLovin Co. (NASDAQ:APP) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 19.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 68,760 shares of the company’s stock after selling 16,852 shares during the quarter. AppLovin comprises approximately 1.1% of Employees Retirement System of Texas’ holdings, making the stock its 15th largest position. Employees Retirement System of Texas’ holdings in AppLovin were worth $222,666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. JFS Wealth Advisors LLC lifted its holdings in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the period. HighPoint Advisor Group LLC raised its position in shares of AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after buying an additional 31 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after acquiring an additional 33 shares during the period. Truvestments Capital LLC boosted its holdings in shares of AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after acquiring an additional 38 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APP. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. JPMorgan Chase & Co. raised their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. The Goldman Sachs Group boosted their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Jefferies Financial Group raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America boosted their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $435.47.

AppLovin Stock Down 16.3 %

Shares of AppLovin stock opened at $219.37 on Monday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a market cap of $74.58 billion, a P/E ratio of 48.32, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a 50-day moving average price of $342.89 and a 200 day moving average price of $289.58.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.