AppLovin Corporation $APP Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 1,079.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,235 shares of the company’s stock after purchasing an additional 130,179 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in AppLovin were worth $95,841,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in AppLovin in the fourth quarter worth $27,000. Washington Trust Advisors Inc. boosted its holdings in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Chilton Capital Management LLC acquired a new position in AppLovin in the third quarter worth $29,000. Activest Wealth Management boosted its holdings in AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new position in AppLovin in the fourth quarter worth $32,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $501.00 on Friday. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The firm’s 50-day simple moving average is $447.26 and its 200 day simple moving average is $529.13. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $168.31 billion, a P/E ratio of 43.04, a P/E/G ratio of 0.81 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The company’s revenue was up 58.9% on a year-over-year basis. Equities analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction dated 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 sale, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares in the company, valued at approximately $14,638,275.26. This represents a 14.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 365,244 shares of company stock worth $169,584,607 over the last ninety days. 13.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings cut AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Wells Fargo & Company raised their target price on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Argus assumed coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. Citigroup cut their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, Evercore reiterated a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $664.35.

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.