Teacher Retirement System of Texas Buys Shares of 60,393 AppLovin Co. (NASDAQ:APP)

Teacher Retirement System of Texas bought a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, Holdings Channel.com reports. The firm bought 60,393 shares of the company’s stock, valued at approximately $19,557,000.

Other institutional investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $336,000. Pathstone Holdings LLC raised its stake in shares of AppLovin by 5.5% during the 3rd quarter. Pathstone Holdings LLC now owns 19,866 shares of the company’s stock worth $2,594,000 after purchasing an additional 1,042 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Prospera Financial Services Inc bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $294,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $714,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $314.03 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s fifty day moving average price is $353.83 and its two-hundred day moving average price is $273.98. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The firm has a market cap of $106.76 billion, a price-to-earnings ratio of 69.17, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APP. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. The Goldman Sachs Group increased their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Finally, Loop Capital increased their price target on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $438.28.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were 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 directly owns 88,389 shares in the company, 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. In the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by corporate insiders.

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.