AppLovin Co. (NASDAQ:APP) Director Sells $64,930,000.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $318.00 on Thursday. The company has a market capitalization of $106.72 billion, a PE ratio of 70.04, a PEG ratio of 3.02 and a beta of 2.30. The business has a fifty day moving average price of $366.88 and a 200-day moving average price of $259.26. AppLovin Co. has a 1-year low of $59.30 and a 1-year high of $525.15. 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 (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the topic of several recent analyst reports. Benchmark lifted their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. UBS Group increased their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Wedbush reiterated an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

Hedge Funds Weigh In On AppLovin

A number of hedge funds have recently added to or reduced their stakes in APP. JFS Wealth Advisors LLC increased its holdings in shares of AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after buying an additional 31 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after buying an additional 33 shares during the last quarter. Forum Financial Management LP increased its holdings in AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after buying an additional 33 shares in the last quarter. Finally, Truvestments Capital LLC raised its position in AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after buying an additional 38 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.