AppLovin Co. (NASDAQ:APP) Director Sells $211,538.40 in Stock

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 570 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $371.12, for a total transaction of $211,538.40. Following the sale, the director now directly owns 6,231 shares in the company, valued at $2,312,448.72. This trade represents a 8.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

AppLovin Price Performance

Shares of APP opened at $366.61 on Friday. The firm has a market cap of $124.63 billion, a PE ratio of 80.75, a PEG ratio of 3.02 and a beta of 2.39. The firm’s 50 day moving average price is $283.05 and its 200 day moving average price is $316.16. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. As a group, research analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oxinas Partners Wealth Management LLC acquired a new position in AppLovin during the 4th quarter worth approximately $1,081,000. Barclays PLC increased its position in shares of AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after purchasing an additional 153,248 shares during the period. Tcfg Wealth Management LLC bought a new position in AppLovin in the fourth quarter valued at about $369,000. Caprock Group LLC grew its position in AppLovin by 42.2% in the fourth quarter. Caprock Group LLC now owns 42,146 shares of the company’s stock valued at $13,648,000 after acquiring an additional 12,500 shares during the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of AppLovin during the fourth quarter valued at about $382,000. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APP has been the subject of a number of research reports. HSBC set a $436.00 target price on shares of AppLovin and gave the company a “buy” rating in a research report on Wednesday, April 23rd. UBS Group boosted their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. FBN Securities assumed coverage on shares of AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $433.85.

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.