California Public Employees Retirement System Adds $12M in AppLovin Corporation ($APP)
The California Public Employees Retirement System increased its stake in AppLovin by 5.17%, now holding 488,574 shares.
Key Points
- California Public Employees Retirement System increased its stake in AppLovin Corporation by 5.17%, adding 24,004 shares to total 488,574 shares, valued at $252.1 million.
- AppLovin trades on NasdaqGS with a market cap of $173.1 billion and a P/E ratio of 44.84; it has a 52-week range between $325.58 and $745.61.
- Insiders, including CEO Arash Adam Foroughi, have been selling shares, while analysts maintain strong buy ratings with targets ranging from $515 to $750.
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The California Public Employees Retirement System (CalPERS) has increased its stake in AppLovin Corporation (NasdaqGS: APP) by 5.17%. The pension fund added 24,004 shares, bringing its total holdings to 488,574 shares, valued at approximately $252.1 million as of the latest Form 13F filing with the SEC. This filing reflects holdings as of the reporting period and may not represent the investor's current position.
California Public Employees Retirement System vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
What Changed in California Public Employees Retirement System's AppLovin Position
CalPERS boosted its stake in AppLovin by 5.17%, adding 24,004 shares to its previous count of 464,570 shares. This brings its total to 488,574 shares, valued at about $252.1 million.
Other Institutional Activity in AppLovin
Among other institutional investors, BlackRock, Inc. reduced its holdings by 531,525 shares, now holding 23,640,172 shares valued at $9.41 billion. Vanguard Capital Management LLC opened a new position with 16,750,884 shares worth approximately $6.67 billion. FMR LLC increased its stake by 2,600,386 shares, reaching a total of 15,691,414 shares valued at $6.25 billion. Meanwhile, State Street Corp trimmed its position by 137,514 shares, now holding 11,767,329 shares worth about $4.68 billion. Geode Capital Management, LLC added 121,369 shares, bringing its total to 7,288,372 shares valued at $2.90 billion.
AppLovin Corporation Stock Up 62.4%
Shares of AppLovin Corporation traded near $516.06 on Wednesday. The company, listed on NasdaqGS, has a market capitalization of approximately $173.1 billion and a P/E ratio of 44.84. AppLovin's stock has a 52-week low of $325.58 and a high of $745.61, with a 50-day moving average of $497.33 and a 200-day moving average of $540.61. The company's beta is 2.455, indicating higher volatility compared to the market. AppLovin maintains a current ratio of 3.244 and a quick ratio of 3.156, with a debt-to-equity ratio of 162.888.
$APP stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
AppLovin reported revenue of $6.16 billion, showing a growth rate of 0.59%. The company achieved a net margin of 64.29% and a return on equity (ROE) of 2.66%. Its earnings per share (EPS) stood at $11.49. The next earnings report is scheduled for August 6, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 3.6%. Revenue beat estimates by 3.3%.
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Profit surprise
EBITDA met by 1 percent. Operating income beat by 7 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
4 target raises, 1 target cut.
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Earnings quality
Gross margin up 2.0 points. Operating margin up 5.7 points. Positive free cash flow.
Earnings Call Summary
AppLovin delivered 1.84 billion dollars in revenue, up 59 percent year over year, and beat guidance again. The gaming business remains strong while the consumer vertical is growing faster, with March spending 25 percent higher than January and April setting a record month. Management is excited about opening the platform to the public in June and seeing new game developers adopt ad monetization alongside in-app purchases.
Guidance AppLovin guided for 1.915 to 1.945 billion dollars in second-quarter revenue, up 52 to 55 percent year over year. They expect adjusted EBITDA margin around 84 to 85 percent. Management said the consumer vertical is accelerating fast and the June platform launch to the public will unlock much larger growth.
Solid report. Results were generally better than expected, but the forward outlook did not materially change.
Insider Buying and Selling at AppLovin Corporation
Recent insider activity at AppLovin includes several sales. On June 16, 2026, Eduardo Vivas sold 163,910 shares at an average price of $504.06 under a planned sale. CEO Arash Adam Foroughi sold shares on multiple occasions: 41,667 shares at $489.03 on June 12, 41,666 shares at $484.75 on June 11, and 20,833 shares at $503.91 on June 10. Additionally, Victoria Valenzuela, Chief Administrative Legal Officer & Corporate Secretary, sold 20,000 shares at $565.89 on June 4.
Analysts Set New Price Targets
On June 29, 2026, Raymond James initiated coverage on AppLovin with a buy rating and a $640 price target. On May 7, 2026, Macquarie, UBS, JP Morgan, Wedbush, Wells Fargo, and Piper Sandler maintained their buy ratings, with price targets ranging from $515 to $750. The consensus among 30 analysts is a strong buy, with an average target price of $650.3.
About AppLovin Corporation
AppLovin Corporation, headquartered in Palo Alto, California, provides AI-powered advertising solutions worldwide. The company operates through its Advertising and Apps segments, offering tools like Axon Ads Manager for marketing automation and MAX, an in-app bidding technology. AppLovin also offers Adjust, a marketing analytics platform, and Wurl, a connected TV platform. Led by CEO Adam Arash Foroughi, the company employs 876 people.
Bottom Line
CalPERS's increased stake in AppLovin Corporation is a notable move, reflecting confidence in the company's growth potential. Investors track such changes in institutional holdings for insights into market sentiment. As always, it's important to remember that 13F filings are backward-looking and may not represent the current investment stance.
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