Northern Trust Corp Buys 29,144 Shares of AppLovin Corporation $APP

Key Points

• Northern Trust Corp has increased its stake in AppLovin Corporation by 1.8%, owning approximately 1.64 million shares valued at $435.1 million as of the most recent SEC disclosure.
• AppLovin's stock opened at $412.60, with a market capitalization of $139.56 billion, and it reported a net margin of 45.72% and a return on equity of 252.67% in its latest quarterly earnings.
• Insider activity includes significant sales, with CTO Vasily Shikin and Director Herald Chen selling large quantities of shares, indicating 13.66% of the stock is held by corporate insiders.

Northern Trust Corp lifted its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,642,122 shares of the company's stock after buying an additional 29,144 shares during the period. Northern Trust Corp owned approximately 0.48% of AppLovin worth $435,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in APP. Revolve Wealth Partners LLC bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $294,000. Norinchukin Bank The bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $968,000. TD Waterhouse Canada Inc. boosted its stake in shares of AppLovin by 161.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 29,013 shares of the company's stock valued at $9,397,000 after buying an additional 17,922 shares during the period. Stifel Financial Corp boosted its stake in shares of AppLovin by 2.3% in the fourth quarter. Stifel Financial Corp now owns 120,253 shares of the company's stock valued at $38,941,000 after buying an additional 2,752 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in shares of AppLovin by 4.0% in the fourth quarter. IHT Wealth Management LLC now owns 2,514 shares of the company's stock valued at $814,000 after buying an additional 97 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

APP stock opened at $412.60 on Wednesday. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The stock has a market capitalization of $139.56 billion, a PE ratio of 58.61, a price-to-earnings-growth ratio of 2.45 and a beta of 2.43. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company's 50-day moving average is $372.50 and its 200-day moving average is $343.87.

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

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the transaction, the chief technology officer owned 70,889 shares of the company's stock, valued at $25,069,185.96. This trade represents a 32.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $464.69, for a total transaction of $92,938,000.00. Following the transaction, the director directly owned 381,929 shares in the company, valued at approximately $177,478,587.01. This represents a 34.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,022,214 shares of company stock valued at $448,294,925 in the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Wedbush restated an "outperform" rating and set a $620.00 target price on shares of AppLovin in a research note on Thursday, August 7th. Wells Fargo & Company upped their price target on shares of AppLovin from $405.00 to $480.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $472.33.

AppLovin 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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