New York State Common Retirement Fund Purchases 2,700 Shares of AppLovin Co. (NASDAQ:APP)

New York State Common Retirement Fund increased its position in AppLovin Co. (NASDAQ:APP) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,535 shares of the company’s stock after purchasing an additional 2,700 shares during the quarter. New York State Common Retirement Fund’s holdings in AppLovin were worth $48,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in AppLovin in the fourth quarter worth approximately $25,000. Hemington Wealth Management grew its stake in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Fifth Third Bancorp grew its stake in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in AppLovin by 38.2% in 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 in the last quarter. Finally, Bogart Wealth LLC purchased a new stake in AppLovin during the fourth quarter worth $37,000. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Matthew Stumpf sold 21,101 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now directly owns 213,336 shares in the company, valued at $70,970,487.12. This trade represents a 9.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 217,403 shares of company stock valued at $72,325,024. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $494.17 on Thursday. 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’s fifty day moving average price is $361.30 and its 200 day moving average price is $239.37. AppLovin Co. has a 1 year low of $54.50 and a 1 year high of $525.15. The company has a market cap of $165.84 billion, a price-to-earnings ratio of 108.85, a PEG ratio of 3.84 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities research analysts forecast that AppLovin Co. will post 6.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of analyst reports. BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Stifel Nicolaus upped their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Loop Capital upped their target price on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company upped their target price on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Four 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $430.41.

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.