AppLovin Co. (NASDAQ:APP) Stock Position Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 702,255 shares of the company's stock after selling 82,601 shares during the quarter. Nuveen Asset Management LLC owned 0.21% of AppLovin worth $227,411,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin during the 4th quarter worth about $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter worth $25,000. Riverview Trust Co grew its position in shares of AppLovin by 1,640.0% in the fourth 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 last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $28,000. Finally, Hemington Wealth Management increased its stake in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of APP opened at $366.61 on Friday. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a market cap of $124.63 billion, a PE ratio of 80.75, a P/E/G ratio of 3.02 and a beta of 2.39. The stock has a 50-day moving average of $283.05 and a 200-day moving average of $316.16. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. On average, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Piper Sandler lifted their target price on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Loop Capital restated a "buy" rating and set a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus target price of $433.85.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is owned by company 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.

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