AppLovin Co. (NASDAQ:APP) Shares Sold by TIAA Trust National Association

TIAA Trust National Association cut its stake in shares of AppLovin Co. (NASDAQ:APP) by 75.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,541 shares of the company’s stock after selling 52,839 shares during the quarter. TIAA Trust National Association’s holdings in AppLovin were worth $5,680,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in APP. Pathstone Holdings LLC lifted its holdings in AppLovin by 5.5% during the 3rd quarter. Pathstone Holdings LLC now owns 19,866 shares of the company’s stock worth $2,594,000 after buying an additional 1,042 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in AppLovin by 89.7% in the third quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock valued at $89,000 after acquiring an additional 322 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of AppLovin by 25.8% during the third quarter. Raymond James Trust N.A. now owns 3,279 shares of the company’s stock worth $428,000 after purchasing an additional 672 shares during the last quarter. Great Valley Advisor Group Inc. increased 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 worth $370,000 after purchasing an additional 60 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of AppLovin by 36.3% in the 3rd quarter. Cerity Partners LLC now owns 18,120 shares of the company’s stock valued at $2,366,000 after purchasing an additional 4,822 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

APP stock opened at $346.29 on Wednesday. The stock has a market capitalization of $117.72 billion, a price-to-earnings ratio of 76.28, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The stock’s fifty day simple moving average is $354.81 and its 200-day simple moving average is $280.21. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities research analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on APP shares. Jefferies Financial Group increased their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup upped their price objective on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus increased their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by company insiders.

About AppLovin

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.