Teachers Retirement System of The State of Kentucky Purchases 1,280 Shares of AppLovin Corporation $APP

Teachers Retirement System of The State of Kentucky grew its position in AppLovin Corporation (NASDAQ:APP) by 3.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,065 shares of the company’s stock after buying an additional 1,280 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in AppLovin were worth $15,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Board of the Pension Protection Fund bought a new position in AppLovin in the fourth quarter valued at approximately $27,000. Washington Trust Advisors Inc. raised its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in AppLovin during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC bought a new stake in AppLovin during the fourth quarter worth $32,000. Finally, First Pacific Financial acquired a new stake in shares of AppLovin in the 1st quarter valued at $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $442.85 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $148.77 billion, a PE ratio of 38.05, a PEG ratio of 0.82 and a beta of 2.49. AppLovin Corporation has a 12-month low of $342.11 and a 12-month high of $745.61. The business has a 50-day simple moving average of $509.09 and a two-hundred day simple moving average of $495.49.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same period last year, the firm posted $1.67 earnings per share. Analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 33,042 shares of AppLovin stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the sale, the chief executive officer directly owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 393,000 shares of company stock worth $197,297,363 over the last quarter. 13.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on APP. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, May 28th. Argus started coverage on AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective for the company. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Benchmark reiterated a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. boosted their target price on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $668.45.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Wells Fargo raised its price target on AppLovin to $575 from $571 and kept an Overweight rating, reinforcing a constructive long-term view on the stock. Wells Fargo Raises PT on AppLovin (APP) Stock
• Positive Sentiment: Some market commentary said the pullback in APP looks “overdone,” suggesting investors may be overreacting to short-term concerns around the e-commerce expansion. AppLovin’s Ecommerce Growth Soft In June, Says BofA Citing Third-Party Data – Retail Views Current Selloff In APP Stock ‘Overdone’
• Neutral Sentiment: AppLovin continues to be discussed as an AI-driven ad tech company expanding beyond mobile gaming into e-commerce advertising, which remains a longer-term strategic theme. How AppLovin (APP) Is Using AI to Expand Beyond Mobile Gaming Into E-Commerce Advertising
• Negative Sentiment: Analyst notes and media coverage point to softer June e-commerce ad growth and weakness in mobile game ad checks, raising questions about near-term momentum in AppLovin’s ad business. AppLovin stock slides after analyst note on e-commerce ads rollout
• Negative Sentiment: The stock also appears to be getting hit by a broader rotation out of high-beta growth names, amplifying the decline beyond company-specific news. Applovin Stock Is Trending: A Key Level Just Came Into Play

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.