AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen Sells 59,876 Shares

AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

AppLovin Stock Performance

AppLovin stock traded down $1.82 during midday trading on Friday, reaching $282.67. The stock had a trading volume of 423,934 shares, compared to its average volume of 4,294,568. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $302.55. The firm’s 50-day moving average price is $155.01 and its 200 day moving average price is $107.06. The firm has a market capitalization of $94.48 billion, a PE ratio of 86.21, a P/E/G ratio of 3.49 and a beta of 1.86. 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 (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. As a group, research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after purchasing an additional 248,022 shares in the last quarter. WCM Investment Management LLC grew its holdings 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 worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of AppLovin by 167.0% during the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after purchasing an additional 10,099 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE purchased a new position in shares of AppLovin during the third quarter worth about $7,086,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on APP. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer increased their target price on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus raised their price target on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Loop Capital raised their price objective on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.31.

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.