AppLovin Corporation $APP Stock Holdings Lessened by State of Michigan Retirement System

Key Points

• State of Michigan Retirement System trimmed its AppLovin stake by 3.0% in Q4, selling 2,300 shares and leaving it with 75,100 shares valued at about $50.6 million.
• Significant insider selling occurred recently: Director Eduardo Vivas sold 163,910 shares (~$74.3M) and CEO Arash Foroughi sold 50,000 shares (~$23.3M), with insiders offloading 365,244 shares (~$169.6M) in the last 90 days while still owning 13.66% of the company.
• Wall Street remains broadly positive—AppLovin reported better-than-expected Q4 results (EPS $3.24, revenue $1.66B, revenue +66%) and carries a consensus rating of Moderate Buy with an average price target of $673.25.

State of Michigan Retirement System reduced its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,100 shares of the company's stock after selling 2,300 shares during the quarter. State of Michigan Retirement System's holdings in AppLovin were worth $50,604,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin during the 4th quarter valued at about $27,000. Chilton Capital Management LLC bought a new position in AppLovin during the third quarter valued at approximately $29,000. Activest Wealth Management raised its position in AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company's stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock valued at $33,000 after acquiring an additional 17 shares during the last quarter. Finally, Bogart Wealth LLC grew its position in AppLovin by 100.0% in the third quarter. Bogart Wealth LLC now owns 48 shares of the company's stock worth $34,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Argus started coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a "buy" rating and a $520.00 price objective for the company. UBS Group set a $740.00 price target on AppLovin in a research report on Thursday, February 12th. Jefferies Financial Group lowered their price objective on AppLovin from $860.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. Needham & Company LLC restated a "buy" rating and issued a $700.00 target price on shares of AppLovin in a report on Wednesday, March 11th. Finally, Wedbush increased their price target on AppLovin from $465.00 to $640.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $673.25.

AppLovin Price Performance

APP opened at $448.29 on Monday. AppLovin Corporation has a 1-year low of $246.00 and a 1-year high of $745.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $151.20 billion, a price-to-earnings ratio of 45.98, a P/E/G ratio of 0.78 and a beta of 2.50. The business has a 50 day moving average of $433.47 and a 200-day moving average of $539.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. AppLovin's revenue was up 66.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 earnings per share. As a group, sell-side analysts anticipate that AppLovin Corporation will post 15.72 earnings per share for the current year.

AppLovin Company Profile

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.

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