Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 99,000 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 99,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

AppLovin Price Performance

Shares of APP stock opened at $324.47 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $108.89 billion, a PE ratio of 98.32, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. The firm’s 50-day moving average is $246.00 and its two-hundred day moving average is $144.80. AppLovin Co. has a 12 month low of $37.40 and a 12 month high of $417.64.

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

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of APP. B. Riley Wealth Advisors Inc. increased its holdings in AppLovin by 43.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 6,391 shares of the company’s stock valued at $841,000 after purchasing an additional 1,929 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of AppLovin by 37.0% during the third quarter. Franklin Resources Inc. now owns 996,996 shares of the company’s stock worth $130,158,000 after buying an additional 269,134 shares during the period. Castellan Group purchased a new position in shares of AppLovin during the third quarter worth $8,799,000. Optimist Retirement Group LLC acquired a new stake in shares of AppLovin in the third quarter valued at $284,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of AppLovin in the 3rd quarter valued at $833,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on APP shares. Oppenheimer reiterated an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, Loop Capital boosted their price objective on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $292.79.

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.