Public Employees Retirement Association of Colorado Increases Stock Holdings in AppLovin Co. (NASDAQ:APP)

Public Employees Retirement Association of Colorado grew its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 18.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,923 shares of the company's stock after purchasing an additional 3,309 shares during the period. Public Employees Retirement Association of Colorado's holdings in AppLovin were worth $6,775,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Oxinas Partners Wealth Management LLC purchased a new stake in AppLovin during the 4th quarter worth about $1,081,000. Virtu Financial LLC acquired a new position in shares of AppLovin during the third quarter worth about $3,211,000. Franchise Capital Ltd acquired a new stake in AppLovin in the fourth quarter valued at approximately $2,811,000. Barclays PLC lifted its stake in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after acquiring an additional 153,248 shares during the last quarter. Finally, Tcfg Wealth Management LLC acquired a new position in AppLovin during the 4th quarter worth approximately $369,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on AppLovin from $475.00 to $270.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley upgraded AppLovin from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $470.00 to $350.00 in a report on Thursday, April 10th. Benchmark upped their price target on AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $560.00 price target on shares of AppLovin in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and an average target price of $415.15.

AppLovin Stock Performance

NASDAQ:APP opened at $284.98 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $96.88 billion, a price-to-earnings ratio of 62.77, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm's fifty day moving average price is $286.98 and its 200 day moving average price is $303.11. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated 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 transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were 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 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 disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company's stock.

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.

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