AppLovin Co. (NYSE:APP) major shareholder John Krystynak sold 12,800 shares of the business’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $80.10, for a total transaction of $1,025,280.00. Following the transaction, the insider now owns 23,900,058 shares of the company’s stock, valued at $1,914,394,645.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
John Krystynak also recently made the following trade(s):
- On Wednesday, August 18th, John Krystynak sold 13,139 shares of AppLovin stock. The stock was sold at an average price of $65.14, for a total transaction of $855,874.46.
Shares of NYSE:APP opened at $75.63 on Wednesday. AppLovin Co. has a 12 month low of $49.41 and a 12 month high of $90.03. The company’s 50-day moving average price is $66.59. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.87.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new stake in AppLovin in the second quarter worth about $38,000. Steward Partners Investment Advisory LLC purchased a new stake in AppLovin in the second quarter worth about $52,000. Royal Bank of Canada purchased a new stake in shares of AppLovin during the second quarter valued at approximately $62,000. Sandy Spring Bank purchased a new stake in shares of AppLovin during the second quarter valued at approximately $75,000. Finally, Citigroup Inc. purchased a new stake in shares of AppLovin during the second quarter valued at approximately $102,000. Institutional investors and hedge funds own 35.80% of the company’s stock.
APP has been the subject of several research reports. Citigroup upped their target price on shares of AppLovin from $69.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, June 4th. Stifel Nicolaus upgraded shares of AppLovin from a “hold” rating to a “buy” rating and upped their target price for the stock from $65.00 to $90.00 in a research report on Thursday, September 9th. Morgan Stanley raised shares of AppLovin from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $68.00 to $60.00 in a research note on Monday, August 16th. Finally, Macquarie began coverage on shares of AppLovin in a research note on Tuesday, August 31st. They issued an “outperform” rating and a $90.00 price target for the company. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, AppLovin has a consensus rating of “Buy” and a consensus price target of $78.15.
AppLovin Company Profile
AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps worldwide. The company's software solutions include AppDiscovery, a solution to automate, optimize, and manage user acquisition investments for business clients; and MAX, an in-app bidding solution that optimizes purchases of app ad inventory.
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