AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin Sells 154,500 Shares of Stock

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at $381,192,483.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 9th, Vasily Shikin sold 5,500 shares of AppLovin stock. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00.

AppLovin Stock Down 0.1 %

Shares of NASDAQ:APP opened at $86.23 on Wednesday. The company’s fifty day moving average is $82.98 and its two-hundred day moving average is $77.41. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $93.70. The stock has a market capitalization of $28.37 billion, a price-to-earnings ratio of 51.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.88.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC acquired a new stake in AppLovin in the first quarter worth $497,488,000. Fred Alger Management LLC acquired a new stake in shares of AppLovin in the 2nd quarter worth about $290,655,000. Whale Rock Capital Management LLC bought a new stake in AppLovin in the 1st quarter valued at about $195,129,000. Jericho Capital Asset Management L.P. boosted its stake in AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares during the period. Finally, 1832 Asset Management L.P. grew its position in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

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