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

State of New Jersey Common Pension Fund D grew its holdings in AppLovin Co. (NASDAQ:APP) by 2.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 76,751 shares of the company’s stock after buying an additional 1,557 shares during the period. State of New Jersey Common Pension Fund D’s holdings in AppLovin were worth $24,854,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in APP. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth about $25,000. Hemington Wealth Management lifted its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Fifth Third Bancorp lifted its holdings in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the period. Finally, Bogart Wealth LLC acquired a new stake in shares of AppLovin during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 8.2 %

Shares of APP opened at $510.13 on Monday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a one year low of $52.75 and a one year high of $525.15. The stock has a market capitalization of $171.19 billion, a price-to-earnings ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30. The stock has a 50 day moving average price of $351.33 and a 200 day moving average price of $231.50.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. Equities research analysts forecast that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on APP shares. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday. Bank of America boosted their price target on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday. Wedbush reissued an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Macquarie boosted their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Piper Sandler boosted their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $422.18.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock valued at $267,640,144 in the last three months. 14.69% of the stock is currently owned by insiders.

AppLovin 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.