Louisiana State Employees Retirement System Boosts Stake in AppLovin Corporation (NASDAQ:APP)

Louisiana State Employees Retirement System grew its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,600 shares of the company's stock after acquiring an additional 800 shares during the period. Louisiana State Employees Retirement System's holdings in AppLovin were worth $5,988,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the fourth quarter worth about $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin in the first quarter valued at approximately $27,000. Tucker Asset Management LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $28,000. Finally, ORG Wealth Partners LLC acquired a new position in AppLovin during the first quarter valued at approximately $29,000. Institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 100,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total value of $36,751,000.00. Following the sale, the chief executive officer directly owned 2,760,363 shares in the company, valued at $1,014,461,006.13. This represents a 3.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the sale, the director owned 221,209 shares in the company, valued at $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock valued at $455,062,980 over the last quarter. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Down 3.2%

APP stock traded down $11.22 during trading on Friday, reaching $335.10. The stock had a trading volume of 3,575,879 shares, compared to its average volume of 6,254,586. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The company's 50 day moving average is $358.23 and its two-hundred day moving average is $334.28. The company has a market capitalization of $113.39 billion, a price-to-earnings ratio of 60.49, a P/E/G ratio of 2.00 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $0.67 EPS. The company's revenue was up 40.3% compared to the same quarter last year. Equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on APP shares. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. Citigroup reissued a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Scotiabank raised shares of AppLovin to a "strong-buy" rating in a research note on Tuesday, July 8th. Wedbush raised shares of AppLovin to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus target price of $438.43.

AppLovin 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.