New York State Common Retirement Fund Sells 35,134 Shares of AppLovin Co. (NASDAQ:APP)

New York State Common Retirement Fund decreased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 18.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,395 shares of the company’s stock after selling 35,134 shares during the period. New York State Common Retirement Fund’s holdings in AppLovin were worth $6,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BluePath Capital Management LLC bought a new stake in AppLovin during the third quarter valued at about $33,000. Castleview Partners LLC bought a new position in shares of AppLovin during the 3rd quarter valued at approximately $38,000. Cullen Frost Bankers Inc. purchased a new stake in AppLovin in the 3rd quarter worth approximately $44,000. Robeco Institutional Asset Management B.V. bought a new stake in AppLovin during the 3rd quarter worth approximately $45,000. Finally, Lindbrook Capital LLC boosted its position in shares of AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth $53,000 after purchasing an additional 281 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APP. Wedbush increased their price target on AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Stifel Nicolaus boosted their price target on AppLovin from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer increased their price objective on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, April 8th. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. Finally, Jefferies Financial Group assumed coverage on shares of AppLovin in a research note on Thursday. They set a “buy” rating and a $93.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $63.60.

AppLovin Price Performance

NASDAQ:APP opened at $75.07 on Friday. The firm has a market capitalization of $25.67 billion, a price-to-earnings ratio of 75.07, a PEG ratio of 1.39 and a beta of 1.85. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. The business has a 50 day simple moving average of $68.24 and a 200-day simple moving average of $50.85. AppLovin Co. has a 1 year low of $16.56 and a 1 year high of $79.55.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The company had revenue of $953.26 million during the quarter, compared to analyst estimates of $928.66 million. During the same period in the previous year, the firm earned ($0.21) earnings per share. AppLovin’s quarterly revenue was up 35.7% compared to the same quarter last year. Equities analysts forecast that AppLovin Co. will post 2.51 EPS 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.