New York State Common Retirement Fund Sells 23,974 Shares of AppLovin Co. (NASDAQ:APP)

New York State Common Retirement Fund lowered its stake in shares of AppLovin Co. (NASDAQ:APP) by 14.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 147,835 shares of the company’s stock after selling 23,974 shares during the quarter. New York State Common Retirement Fund’s holdings in AppLovin were worth $19,300,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. DT Investment Partners LLC bought a new position in shares of AppLovin during the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the 3rd quarter valued at $29,000. HM Payson & Co. grew its position in AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. ORG Wealth Partners LLC bought a new position in AppLovin in the 3rd quarter valued at $42,000. Finally, Quest Partners LLC bought a new position in AppLovin in the 2nd quarter valued at $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 2.7 %

Shares of NASDAQ APP opened at $159.11 on Tuesday. The business has a fifty day moving average price of $129.12 and a 200 day moving average price of $97.33. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $174.46. The stock has a market capitalization of $53.18 billion, a P/E ratio of 67.71, a price-to-earnings-growth ratio of 2.44 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue was up 44.0% compared to the same quarter last year. Equities research analysts expect that AppLovin Co. will post 3.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Oppenheimer upped their price objective on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company assumed coverage on AppLovin in a research report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price objective on the stock. Jefferies Financial Group upped their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Bank of America upped their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Loop Capital started coverage on AppLovin in a report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.78.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is owned by insiders.

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.