AppLovin Corporation $APP Shares Sold by TIAA Trust National Association

TIAA Trust National Association trimmed its holdings in AppLovin Corporation (NASDAQ:APP) by 4.8% in the 4th quarter, HoldingsChannel reports. The fund owned 50,205 shares of the company’s stock after selling 2,544 shares during the quarter. TIAA Trust National Association’s holdings in AppLovin were worth $33,829,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC purchased a new position in AppLovin in the fourth quarter worth approximately $294,000. Bison Wealth LLC purchased a new position in AppLovin in the fourth quarter worth approximately $239,000. Integrated Wealth Concepts LLC grew its position in AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares during the period. NewEdge Advisors LLC grew its position in AppLovin by 5.7% in the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after acquiring an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after acquiring an additional 9,380 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APP has been the subject of several analyst reports. Arete Research set a $340.00 price objective on AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Citigroup reiterated a “buy” rating and issued a $710.00 price objective on shares of AppLovin in a research report on Monday, June 1st. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. UBS Group lowered their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $664.35.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 397,372 shares of company stock valued at $187,943,603. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Up 1.2%

APP opened at $563.69 on Tuesday. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The business has a fifty day simple moving average of $473.88 and a 200-day simple moving average of $521.57. The firm has a market cap of $189.37 billion, a P/E ratio of 48.43, a P/E/G ratio of 0.91 and a beta of 2.45. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $1.67 earnings per share. The company’s quarterly revenue was up 58.9% on a year-over-year basis. On average, equities analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current year.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.