State of New Jersey Common Pension Fund D Boosts Holdings in AppLovin Co. (NASDAQ:APP)

State of New Jersey Common Pension Fund D boosted its position in shares of AppLovin Co. (NASDAQ:APP) by 7.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 87,903 shares of the company’s stock after purchasing 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in AppLovin by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after purchasing an additional 1,411,453 shares during the last quarter. Sapient Capital LLC purchased a new stake in AppLovin during the 4th quarter valued at $165,057,000. Ameriprise Financial Inc. boosted its stake in AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock valued at $56,050,000 after purchasing an additional 1,374,066 shares during the last quarter. Raymond James & Associates boosted its stake in AppLovin by 12.3% during the 4th quarter. Raymond James & Associates now owns 1,041,839 shares of the company’s stock valued at $41,517,000 after purchasing an additional 113,932 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in AppLovin by 10.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 989,922 shares of the company’s stock valued at $39,557,000 after purchasing an additional 93,618 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on APP. The Goldman Sachs Group increased their target price on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Daiwa Capital Markets started coverage on AppLovin in a report on Monday, April 15th. They set a “neutral” rating and a $80.00 price target on the stock. BTIG Research increased their price target on AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Morgan Stanley increased their price target on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $59.31.

Insider Activity

In other news, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the transaction, the chief financial officer now owns 362,264 shares in the company, valued at $22,931,311.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the transaction, the insider now owns 471,560 shares in the company, valued at $35,371,715.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. 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 90 days. Corporate insiders own 12.43% of the company’s stock.

AppLovin Trading Up 6.7 %

Shares of APP stock opened at $73.82 on Friday. AppLovin Co. has a 52-week low of $15.70 and a 52-week high of $79.55. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market capitalization of $25.25 billion, a PE ratio of 73.82, a PEG ratio of 1.39 and a beta of 1.90. The stock has a fifty day simple moving average of $67.13 and a two-hundred day simple moving average of $49.97.

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