Public Employees Retirement Association of Colorado Has $6.78 Million Position in AppLovin Co. (NASDAQ:APP)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oxinas Partners Wealth Management LLC acquired a new position in shares of AppLovin in the fourth quarter valued at approximately $1,081,000. Virtu Financial LLC acquired a new position in AppLovin during the third quarter worth approximately $3,211,000. Franchise Capital Ltd acquired a new position in AppLovin during the fourth quarter worth approximately $2,811,000. Barclays PLC increased its position in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after purchasing an additional 153,248 shares during the last quarter. Finally, Tcfg Wealth Management LLC purchased a new stake in AppLovin during the fourth quarter worth approximately $369,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

NASDAQ APP traded down $19.57 on Wednesday, hitting $269.31. The stock had a trading volume of 9,246,892 shares, compared to its average volume of 5,912,743. The company's 50-day moving average is $283.75 and its two-hundred day moving average is $303.01. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The stock has a market cap of $91.55 billion, a price-to-earnings ratio of 59.32, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction on 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 sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. Insiders own 14.69% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on APP. UBS Group decreased their price objective on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on shares of AppLovin from $475.00 to $270.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. FBN Securities began coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and an average price target of $415.15.

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.