Oregon Public Employees Retirement Fund Purchases New Stake in AppLovin Corporation $APP

Oregon Public Employees Retirement Fund acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,902 shares of the company’s stock, valued at approximately $22,204,000.

Several other large investors also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new stake in shares of AppLovin in the 3rd quarter worth $20,798,000. Nisa Investment Advisors LLC grew its holdings in shares of AppLovin by 121.0% in the third quarter. Nisa Investment Advisors LLC now owns 22,294 shares of the company’s stock valued at $16,019,000 after purchasing an additional 12,208 shares during the period. StoneCrest Wealth Management Inc. purchased a new stake in shares of AppLovin in the third quarter valued at about $412,000. Steinberganna Wealth Management acquired a new stake in AppLovin during the third quarter worth about $262,000. Finally, Beaumont Financial Advisors LLC purchased a new position in AppLovin during the third quarter worth about $319,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APP. Wedbush increased their price target on shares of AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Zacks Research upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of AppLovin in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft set a $705.00 target price on AppLovin and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Phillip Securities upgraded AppLovin to a “moderate buy” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $696.60.

AppLovin Stock Down 2.6%

NASDAQ:APP opened at $616.53 on Friday. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The stock’s fifty day moving average is $638.79 and its two-hundred day moving average is $540.39. The stock has a market capitalization of $208.36 billion, a price-to-earnings ratio of 74.82, a price-to-earnings-growth ratio of 2.09 and a beta of 2.50. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business earned $1.29 EPS. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. Research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the sale, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the sale, the director owned 2,829 shares in the company, valued at approximately $1,961,402.28. This trade represents a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 340,336 shares of company stock valued at $200,062,623 over the last three months. 13.66% of the stock is currently owned by company insiders.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.