Matthew Stumpf Sells 21,101 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf sold 21,101 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares of the company’s stock, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $333.31 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 stock has a market capitalization of $111.86 billion, a P/E ratio of 101.00, a P/E/G ratio of 3.92 and a beta of 1.86. The business has a 50-day moving average of $181.30 and a two-hundred day moving average of $117.13. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $342.51.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company 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 company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. On average, equities research analysts predict that AppLovin Co. will post 4.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on APP shares. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Citigroup boosted their target price on AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Stifel Nicolaus increased their price target on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BTIG Research upped their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $222.96.

Institutional Investors Weigh In On AppLovin

A number of hedge funds have recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth about $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin during the third quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth $29,000. Finally, Quest Partners LLC bought a new position in AppLovin during the second quarter worth $33,000. 41.85% of the stock is currently owned by institutional investors.

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.