AppLovin Co. (NASDAQ:APP) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in shares of AppLovin Co. (NASDAQ:APP) by 7.1% during the fourth quarter, Holdings Channel reports. The firm owned 87,903 shares of the company’s stock after acquiring an additional 5,815 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AppLovin were worth $3,503,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BluePath Capital Management LLC bought a new position in shares of AppLovin during the third quarter worth about $33,000. Castleview Partners LLC bought a new position in shares of AppLovin during the third quarter worth about $38,000. Cullen Frost Bankers Inc. bought a new position in shares of AppLovin during the third quarter worth about $44,000. Robeco Institutional Asset Management B.V. bought a new position in shares of AppLovin during the third quarter worth about $45,000. Finally, GAMMA Investing LLC bought a new position in shares of AppLovin during the fourth quarter worth about $47,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $73.82 on Friday. The firm’s 50 day moving average is $67.13 and its 200-day moving average is $49.97. The stock has a market capitalization of $25.25 billion, a P/E ratio of 73.82, a P/E/G ratio of 1.39 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. AppLovin Co. has a 12-month low of $15.70 and a 12-month high of $79.55.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business’s revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) EPS. Equities research analysts anticipate that AppLovin Co. will post 2.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APP. BTIG Research increased their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. UBS Group increased their target price on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Daiwa Capital Markets began coverage on shares of AppLovin in a research report on Monday, April 15th. They issued a “neutral” rating and a $80.00 target price for the company. Wedbush increased their target price on shares of AppLovin from $67.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group increased their target price on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $59.31.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the transaction, the director now owns 12,739 shares of the company’s stock, valued at $743,065.87. The disclosure for this sale can be found here. Insiders sold a total of 61,215 shares of company stock worth $4,416,815 over the last ninety days. 12.43% of the stock is currently owned by company insiders.

AppLovin Company Profile

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.