AppLovin Co. (NASDAQ:APP) Shares Acquired by Utah Retirement Systems

Utah Retirement Systems increased its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 212.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,100 shares of the company's stock after acquiring an additional 30,000 shares during the quarter. Utah Retirement Systems' holdings in AppLovin were worth $14,281,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APP. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the fourth quarter valued at approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co increased its position in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management boosted its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of NASDAQ:APP traded up $28.09 during trading on Friday, hitting $307.58. 6,984,084 shares of the company traded hands, compared to its average volume of 5,944,323. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The business's fifty day moving average is $276.82 and its 200-day moving average is $304.83. The stock has a market capitalization of $104.56 billion, a price-to-earnings ratio of 67.75, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. Company insiders own 14.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on APP shares. Bank of America raised their price objective on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Benchmark lifted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Citigroup boosted their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, 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 report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $415.15.

AppLovin Company 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.