Insider Selling: AppLovin Co. (NASDAQ:APP) CTO Sells 5,500 Shares of Stock

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 5,500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00. Following the completion of the transaction, the chief technology officer now directly owns 4,536,447 shares in the company, valued at $390,315,899.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Vasily Shikin also recently made the following trade(s):

• On Friday, September 6th, Vasily Shikin sold 154,500 shares of AppLovin stock. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00.

AppLovin Price Performance

NASDAQ APP traded down $0.08 during trading hours on Tuesday, reaching $86.23. The company’s stock had a trading volume of 2,827,674 shares, compared to its average volume of 4,040,011. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market cap of $28.82 billion, a PE ratio of 51.83, a PEG ratio of 1.22 and a beta of 1.88. The company’s 50-day moving average is $82.93 and its two-hundred day moving average is $77.20. AppLovin Co. has a fifty-two week low of $34.45 and a fifty-two week high of $93.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company posted $0.22 EPS. The company’s revenue was up 44.0% on a year-over-year basis. Analysts forecast that AppLovin Co. will post 3.48 EPS for the current year.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in AppLovin during the 2nd quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AppLovin during the 2nd quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of AppLovin during the second quarter worth about $37,000. Summit Securities Group LLC acquired a new position in shares of AppLovin in the second quarter valued at approximately $42,000. Finally, Covestor Ltd lifted its stake in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on APP shares. Jefferies Financial Group raised their price objective on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush decreased their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Finally, Benchmark raised their target price on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.09.

About AppLovin

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.