AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf Sells 9,714 Shares of Stock

AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf sold 9,714 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $423.00, for a total value of $4,109,022.00. Following the transaction, the chief financial officer now directly owns 192,421 shares of the company’s stock, valued at $81,394,083. The trade was a 4.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

AppLovin Stock Up 0.9%

Shares of NASDAQ:APP opened at $417.89 on Friday. The business has a 50 day simple moving average of $311.16 and a two-hundred day simple moving average of $332.29. The firm has a market capitalization of $141.41 billion, a PE ratio of 92.05, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year 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. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. AppLovin’s revenue was up 40.3% compared to the same quarter last year. On average, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Institutional Trading of AppLovin

Institutional investors have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin in the 4th quarter valued at approximately $25,000. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at about $25,000. Riverview Trust Co boosted its stake in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin during the fourth quarter worth about $28,000. Finally, Hemington Wealth Management raised its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on APP. Piper Sandler lifted their target price on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Bank of America lifted their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. The Goldman Sachs Group increased their target price on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Wednesday, May 28th. Finally, Arete Research set a $200.00 price objective on AppLovin in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $436.10.

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.