AppLovin Co. (NASDAQ:APP) Director Eduardo Vivas Sells 30,330 Shares

AppLovin Co. (NASDAQ:APP) Director Eduardo Vivas sold 30,330 shares of AppLovin stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the completion of the sale, the director now owns 90,576 shares of the company’s stock, valued at approximately $29,950,765.92. The trade was a 25.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

AppLovin Trading Up 2.5 %

AppLovin stock traded up $8.19 during trading hours on Friday, hitting $336.75. The stock had a trading volume of 2,714,534 shares, compared to its average volume of 4,462,565. The business’s 50 day simple moving average is $197.69 and its 200-day simple moving average is $123.96. AppLovin Co. has a one year low of $35.79 and a one year high of $344.77. The stock has a market cap of $113.01 billion, a price-to-earnings ratio of 102.05, a P/E/G ratio of 4.05 and a beta of 1.86. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business earned $0.30 EPS. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. On average, equities analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Hedge Funds Weigh In On AppLovin

Hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in AppLovin in the third quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. DT Investment Partners LLC bought a new position in shares of AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin during the third quarter worth about $29,000. Finally, HM Payson & Co. lifted its stake in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on APP. Benchmark restated a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Bank of America increased their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Macquarie increased their price objective on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Loop Capital raised their target price on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

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.