Northwestern Mutual Wealth Management Co. Boosts Position in AppLovin Corporation $APP

Key Points

• Northwestern Mutual Wealth Management Co. sharply increased its AppLovin stake by 1,079.8% in the fourth quarter, ending with 142,235 shares valued at about $95.8 million.
• AppLovin’s latest quarterly results beat expectations, with EPS of $3.56 versus $3.44 expected and revenue of $1.84 billion versus $1.77 billion expected; revenue also jumped 58.9% year over year.
• Wall Street remains generally bullish on APP, with a Moderate Buy consensus and an average price target of $664.35, though insiders have recently sold shares and several hedge funds have also been adding positions.

Northwestern Mutual Wealth Management Co. boosted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 1,079.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 142,235 shares of the company's stock after buying an additional 130,179 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in AppLovin were worth $95,841,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of APP. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin during the fourth quarter valued at approximately $27,000. Washington Trust Advisors Inc. raised its stake in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock valued at $27,000 after purchasing an additional 24 shares during the period. Chilton Capital Management LLC purchased a new stake in shares of AppLovin during the third quarter valued at approximately $29,000. Activest Wealth Management raised its stake in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company's stock valued at $31,000 after purchasing an additional 38 shares during the period. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $700.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Scotiabank lifted their price objective on shares of AppLovin from $750.00 to $775.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a "neutral" rating in a research note on Monday, March 2nd. Finally, Piper Sandler lifted their price objective on shares of AppLovin from $650.00 to $665.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus price target of $664.35.

AppLovin Stock Up 3.3%

APP stock opened at $501.00 on Friday. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $168.31 billion, a P/E ratio of 43.04, a PEG ratio of 0.81 and a beta of 2.37. The firm has a 50 day simple moving average of $447.26 and a 200-day simple moving average of $529.13.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $1.67 earnings per share. The business's quarterly revenue was up 58.9% compared to the same quarter last year. On average, equities research analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares of the company's stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 40,704 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares of the company's stock, valued at $1,117,625,877.90. The trade was a 1.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Profile

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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