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 4th quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in APP. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the fourth quarter valued at $25,000. Riverview Trust Co boosted its stake in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares during the period. Hemington Wealth Management grew its position in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares during the period. Finally, Smithfield Trust Co bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $32,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $346.29 on Wednesday. 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 company has a market cap of $117.72 billion, a P/E ratio of 76.28, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The firm’s 50 day simple moving average is $354.81 and its 200-day simple moving average is $280.21.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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 predict that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on APP. UBS Group raised their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Arete Research set a $200.00 target price on shares of AppLovin in a research report on Wednesday, March 5th. Loop Capital boosted their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Piper Sandler increased their price objective on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. One 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. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 $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 available at this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the sale, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is 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.