California Public Employees Retirement System Has $16.19 Million Stock Position in AppLovin Co. (NASDAQ:APP)

California Public Employees Retirement System raised its holdings in shares of AppLovin Co. (NASDAQ:APP) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 406,300 shares of the company’s stock after buying an additional 17,604 shares during the quarter. California Public Employees Retirement System’s holdings in AppLovin were worth $16,191,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of APP. Sapient Capital LLC acquired a new position in AppLovin during the 4th quarter valued at $165,057,000. Vanguard Group Inc. lifted its stake in shares of AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after buying an additional 1,411,453 shares during the period. Ameriprise Financial Inc. grew its position in AppLovin by 4,805.9% during the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after buying an additional 1,374,066 shares in the last quarter. FMR LLC increased its position in shares of AppLovin by 224.6% during the third quarter. FMR LLC now owns 755,798 shares of the company’s stock valued at $30,202,000 after purchasing an additional 522,949 shares during the period. Finally, Raymond James & Associates lifted its position in AppLovin by 88.6% in the third quarter. Raymond James & Associates now owns 927,907 shares of the company’s stock worth $37,079,000 after purchasing an additional 435,792 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

Shares of APP stock opened at $72.99 on Tuesday. AppLovin Co. has a 52 week low of $15.70 and a 52 week high of $79.55. The stock has a market capitalization of $24.96 billion, a PE ratio of 72.99, a PEG ratio of 1.48 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The stock’s fifty day moving average is $67.39 and its 200-day moving average is $50.34.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The company’s revenue was up 35.7% on a year-over-year basis. Equities research analysts expect that AppLovin Co. will post 2.49 EPS for the current fiscal year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now owns 546,560 shares in the company, valued at $31,569,305.60. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock valued at $4,416,815 over the last three months. 12.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on APP shares. UBS Group increased their price objective on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. The Goldman Sachs Group increased their price target on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. BTIG Research lifted their price objective on AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Finally, Wedbush raised their target price on AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.31.

About AppLovin

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.