AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi Sells 1,676 Shares

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AppLovin Price Performance

NASDAQ APP opened at $324.47 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1 year low of $37.40 and a 1 year high of $417.64. The company has a market cap of $108.89 billion, a PE ratio of 98.32, a PEG ratio of 4.17 and a beta of 2.28. The stock’s 50-day moving average price is $246.00 and its two-hundred day moving average price is $144.37.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on APP shares. Wedbush reissued an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Benchmark reiterated a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a report on Thursday, November 7th. Piper Sandler began coverage on AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. Finally, The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and increased their price target for the company from $103.00 to $150.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Institutional Trading of AppLovin

A number of hedge funds have recently modified their holdings of APP. Townsquare Capital LLC grew its holdings in shares of AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after buying an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC purchased a new stake in AppLovin in the 3rd quarter worth about $224,000. State Street Corp boosted its position in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. grew its stake in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management increased its holdings in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.