Oregon Public Employees Retirement Fund Has $17.04 Million Holdings in AppLovin Corporation $APP

Oregon Public Employees Retirement Fund grew its position in shares of AppLovin Corporation (NASDAQ:APP) by 6.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 33,066 shares of the company’s stock after buying an additional 2,042 shares during the period. Oregon Public Employees Retirement Fund’s holdings in AppLovin were worth $17,037,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC bought a new stake in AppLovin during the 1st quarter valued at $25,000. Washington Trust Advisors Inc. grew its holdings in shares of 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 buying an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of AppLovin during the fourth quarter valued at about $27,000. Pioneer Family Office LLC bought a new stake in shares of AppLovin during the second quarter worth about $31,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin during the fourth quarter worth about $32,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 0.9%

APP stock opened at $315.44 on Friday. The stock’s fifty day simple moving average is $447.84 and its two-hundred day simple moving average is $456.06. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. AppLovin Corporation has a 1-year low of $303.17 and a 1-year high of $745.61. The stock has a market cap of $105.56 billion, a P/E ratio of 24.25, a P/E/G ratio of 0.63 and a beta of 2.54.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $2.39 EPS. The business’s revenue for the quarter was up 52.8% on a year-over-year basis. Analysts expect that AppLovin Corporation will post 15.57 EPS for the current year.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. The trade was a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 393,000 shares of company stock valued at $197,297,363 in the last 90 days. 12.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on APP shares. Piper Sandler downgraded AppLovin from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $665.00 to $385.00 in a research note on Thursday, August 6th. The Goldman Sachs Group cut their target price on AppLovin from $585.00 to $465.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Morgan Stanley decreased their price target on AppLovin from $720.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Bank of America reissued a “neutral” rating and issued a $400.00 price target (down from $430.00) on shares of AppLovin in a research report on Tuesday, August 11th. Finally, Needham & Company LLC dropped their price objective on AppLovin from $700.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $565.91.

AppLovin 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.