AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen Sells 99,000 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AppLovin Stock Performance

NASDAQ APP opened at $326.21 on Friday. AppLovin Co. has a 1-year low of $36.33 and a 1-year high of $417.64. The company has a market cap of $109.47 billion, a P/E ratio of 98.85, a P/E/G ratio of 4.95 and a beta of 2.27. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a 50-day moving average of $242.30 and a two-hundred day moving average of $142.69.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.30 EPS. The firm’s revenue was up 38.6% on a year-over-year basis. As a group, analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

APP has been the topic of a number of research reports. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America lifted their price target on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company lifted their price target on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $292.79.

Institutional Investors Weigh In On AppLovin

Large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in AppLovin in the 3rd quarter valued at $25,000. DT Investment Partners LLC bought a new position in AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the 3rd quarter valued at $29,000. Finally, Quest Partners LLC bought a new position in AppLovin in the 2nd quarter valued at $33,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Company Profile

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.