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

Teachers Retirement System of The State of Kentucky grew its stake in AppLovin Corporation (NASDAQ:APP) by 3.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 40,065 shares of the company’s stock after buying an additional 1,280 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in AppLovin were worth $15,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin in the fourth quarter worth approximately $294,000. Bison Wealth LLC bought a new stake in AppLovin in the fourth quarter valued at approximately $239,000. Integrated Wealth Concepts LLC increased its position in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares during the period. NewEdge Advisors LLC increased its position in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after purchasing an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

More AppLovin News

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

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 33,042 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total value of $16,089,801.90. Following the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the transaction, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 393,000 shares of company stock worth $197,297,363 in the last quarter. Company insiders own 13.66% of the company’s stock.

AppLovin Trading Down 12.6%

APP opened at $442.85 on Tuesday. The company has a fifty day moving average price of $509.09 and a two-hundred day moving average price of $495.49. AppLovin Corporation has a 1-year low of $342.11 and a 1-year high of $745.61. The company has a market cap of $148.77 billion, a P/E ratio of 38.05, a price-to-earnings-growth ratio of 0.82 and a beta of 2.49. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APP. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research report on Wednesday, June 10th. Raymond James Financial assumed coverage on shares of AppLovin in a research note on Monday, June 29th. They set a “strong-buy” rating and a $640.00 target price for the company. Benchmark restated a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Finally, BTIG Research reaffirmed a “buy” rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

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.