AppLovin (NASDAQ:APP) Director Sells $82,620,474.60 in Stock

AppLovin Corporation (NASDAQ:APP) Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AppLovin Stock Performance

APP stock traded down $9.78 during midday trading on Thursday, hitting $469.71. The stock had a trading volume of 9,516,684 shares, compared to its average volume of 5,531,939. The firm has a market capitalization of $157.79 billion, a price-to-earnings ratio of 40.35, a P/E/G ratio of 0.84 and a beta of 2.45. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The stock has a 50-day simple moving average of $489.48 and a 200 day simple moving average of $519.07. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 EPS. As a group, equities research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current year.

Hedge Funds Weigh In On AppLovin

Large investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC acquired a new position in AppLovin during the 1st quarter worth $25,000. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the 4th quarter valued at $27,000. Washington Trust Advisors Inc. raised its position in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin during the fourth quarter worth $27,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin during the fourth quarter worth $32,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on APP. Arete Research set a $340.00 target price on shares of AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. UBS Group decreased their price target on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Oppenheimer dropped their price target on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company boosted their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $669.62.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.