Nuveen LLC Buys Shares of 747,442 AppLovin Corporation (NASDAQ:APP)

Key Points

• Nuveen LLC acquired 747,442 shares of AppLovin Corporation, valued at approximately $198 million, representing about 0.22% of the company's stock.
• AppLovin reported $2.26 earnings per share for its latest quarter, exceeding analyst estimates, but fell short of revenue expectations with $1.26 billion reported against a $1.37 billion forecast.
• Following recent transactions, insiders have sold a total of 800,398 shares of AppLovin stock valued at over $301 million within the last ninety days.

Nuveen LLC purchased a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 747,442 shares of the company's stock, valued at approximately $198,050,000. Nuveen LLC owned about 0.22% of AppLovin as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin in the 4th quarter worth approximately $25,000. Atala Financial Inc purchased a new stake in shares of AppLovin in the first quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new position in AppLovin during the first quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new position in AppLovin during the first quarter valued at approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in AppLovin during the first quarter valued at approximately $29,000. Institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

APP has been the topic of several research analyst reports. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Thursday, June 26th. Jefferies Financial Group lifted their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley lifted their price target on shares of AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, BTIG Research lifted their price target on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $472.33.

Insider Buying and Selling at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,714 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $423.00, for a total value of $4,109,022.00. Following the completion of the sale, the chief financial officer owned 192,421 shares of the company's stock, valued at approximately $81,394,083. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the sale, the director directly owned 9,510 shares of the company's stock, valued at $3,637,194.60. This trade represents a 13.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 400,398 shares of company stock valued at $151,712,641 over the last ninety days. Insiders own 13.66% of the company's stock.

AppLovin Price Performance

Shares of APP stock traded down $13.06 on Thursday, hitting $433.34. 4,649,111 shares of the company's stock were exchanged, compared to its average volume of 7,180,001. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a 12 month low of $82.51 and a 12 month high of $525.15. The stock has a market cap of $146.64 billion, a P/E ratio of 61.55, a price-to-earnings-growth ratio of 2.61 and a beta of 2.43. The company has a 50 day moving average of $370.02 and a 200 day moving average of $342.07.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company earned $0.89 earnings per share. The business's quarterly revenue was up 77.1% on a year-over-year basis. On average, equities research analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

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.