State of New Jersey Common Pension Fund D Acquires 1,557 Shares of AppLovin Co. (NASDAQ:APP)

State of New Jersey Common Pension Fund D raised its holdings in shares of AppLovin Co. (NASDAQ:APP) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,751 shares of the company’s stock after acquiring an additional 1,557 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AppLovin were worth $24,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. JFS Wealth Advisors LLC raised its holdings in AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares during the period. National Bank of Canada FI raised its holdings in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the period. Hemington Wealth Management grew its position in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Versant Capital Management Inc grew its position in shares of AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its position in shares of AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after purchasing an additional 60 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 828,991 shares of company stock valued at $267,640,144. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research analyst reports. BTIG Research raised their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Macquarie raised their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $422.18.

AppLovin Price Performance

AppLovin stock opened at $510.13 on Monday. 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 has a market cap of $171.19 billion, a price-to-earnings ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. The firm has a 50-day moving average of $351.33 and a two-hundred day moving average of $231.50. AppLovin Co. has a 1 year low of $52.75 and a 1 year high of $525.15.

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

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.