AppLovin Co. (NASDAQ:APP) Insider Sells 15,971 Shares of Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Victoria Valenzuela also recently made the following trade(s):

• On Tuesday, December 3rd, Victoria Valenzuela sold 17,925 shares of AppLovin stock. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75.

AppLovin Trading Up 1.1 %

Shares of APP stock traded up $3.83 during trading hours on Monday, hitting $344.82. The company had a trading volume of 2,479,345 shares, compared to its average volume of 4,630,750. AppLovin Co. has a fifty-two week low of $37.40 and a fifty-two week high of $417.64. The company’s fifty day moving average is $264.72 and its 200 day moving average is $153.98. The stock has a market capitalization of $115.72 billion, a PE ratio of 104.49, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. 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 announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. Research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AppLovin

A number of institutional investors and hedge funds have recently made changes to their positions in APP. Bank of New York Mellon Corp grew its stake in shares of AppLovin by 13.1% during the second quarter. Bank of New York Mellon Corp now owns 964,068 shares of the company’s stock worth $80,230,000 after purchasing an additional 111,718 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in AppLovin in the second quarter valued at approximately $401,000. Summit Securities Group LLC purchased a new position in AppLovin in the second quarter valued at approximately $42,000. AustralianSuper Pty Ltd purchased a new stake in shares of AppLovin during the 2nd quarter worth approximately $555,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of AppLovin by 17.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,195 shares of the company’s stock valued at $1,431,000 after buying an additional 2,566 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on APP shares. Oppenheimer reaffirmed an “outperform” rating and set a $480.00 target price on shares of AppLovin in a report on Tuesday, December 10th. Piper Sandler initiated coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Bank of America boosted their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Macquarie upped their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company lifted their price objective on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.71.

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.