Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 30,330 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Eduardo Vivas sold 30,330 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total value of $10,029,221.10. Following the completion of the transaction, the director now owns 90,576 shares in the company, valued at $29,950,765.92. The trade was a 25.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AppLovin Stock Up 2.5 %

NASDAQ APP opened at $336.75 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $344.77. The firm has a market capitalization of $113.01 billion, a price-to-earnings ratio of 102.05, a PEG ratio of 4.05 and a beta of 1.86. The company has a fifty day moving average of $201.91 and a two-hundred day moving average of $126.00.

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

Analysts Set New Price Targets

APP has been the topic of a number of research analyst reports. Daiwa Capital Markets raised 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 report on Friday, November 8th. Loop Capital boosted their target price on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark reiterated a “sell” rating and issued a $66.00 price target on shares of AppLovin in a research note on Thursday, November 7th. Finally, BTIG Research raised their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $265.57.

Hedge Funds Weigh In On AppLovin

Hedge funds have recently bought and sold shares of the business. WCM Investment Management LLC raised its stake in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. FMR LLC increased its holdings in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. Lone Pine Capital LLC raised its position in AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after purchasing an additional 382,767 shares in the last quarter. State Street Corp lifted its holdings in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after buying an additional 449,241 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

About AppLovin

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.