AppLovin Corporation $APP Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association reduced its AppLovin stake by 4.8% in the fourth quarter, selling 2,544 shares and ending with 50,205 shares valued at about $33.8 million.
• Insider selling has been notable, including recent sales by CTO Vasily Shikin and Director Maynard G. Webb Jr.; insiders have sold 397,372 shares worth roughly $187.9 million over the last 90 days.
• AppLovin reported better-than-expected Q1 earnings, with EPS of $3.56 and revenue of $1.84 billion, both topping analyst estimates, while revenue rose 58.9% year over year.

TIAA Trust National Association lessened its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in shares of AppLovin by 2.9% during the fourth quarter. Cerity Partners LLC now owns 22,900 shares of the company's stock worth $15,430,000 after purchasing an additional 640 shares in the last quarter. West Family Investments Inc. increased its stake in shares of AppLovin by 4.0% during the fourth quarter. West Family Investments Inc. now owns 863 shares of the company's stock worth $582,000 after purchasing an additional 33 shares in the last quarter. Omnitrust Wealth Management Inc purchased a new stake in shares of AppLovin during the fourth quarter worth about $471,000. Deepwater Asset Management LLC increased its stake in shares of AppLovin by 27.6% during the fourth quarter. Deepwater Asset Management LLC now owns 24,707 shares of the company's stock worth $16,648,000 after purchasing an additional 5,337 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of AppLovin by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 64,659 shares of the company's stock worth $43,569,000 after purchasing an additional 1,322 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 8,112 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $483.67, for a total value of $3,923,531.04. Following the completion of the sale, the chief technology officer owned 18,805 shares of the company's stock, valued at approximately $9,095,414.35. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $582.04, for a total value of $1,790,355.04. Following the completion of the sale, the director directly owned 123,520 shares of the company's stock, valued at approximately $71,893,580.80. This represents a 2.43% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 397,372 shares of company stock valued at $187,943,603. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of AppLovin stock opened at $563.69 on Tuesday. The business has a 50 day simple moving average of $473.88 and a two-hundred day simple moving average of $521.57. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The stock has a market capitalization of $189.37 billion, a P/E ratio of 48.43, a PEG ratio of 0.91 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating 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 firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The business's revenue for the quarter was up 58.9% on a year-over-year basis. As a group, analysts predict that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $700.00 target price on shares of AppLovin in a report on Thursday, February 12th. Arete Research set a $340.00 target price on AppLovin and gave the company a "neutral" rating in a report on Monday, March 2nd. Zacks Research cut AppLovin from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. BTIG Research reissued a "buy" rating and set a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Finally, Piper Sandler increased their target price on AppLovin from $650.00 to $665.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $664.35.

About AppLovin

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.

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