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

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

AppLovin Stock Up 4.7 %

APP traded up $15.07 during mid-day trading on Friday, reaching $333.31. 6,872,106 shares of the stock were exchanged, compared to its average volume of 4,452,786. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $342.51. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $111.86 billion, a PE ratio of 101.00, a price-to-earnings-growth ratio of 3.95 and a beta of 1.86. The company has a 50 day moving average price of $181.30 and a two-hundred day moving average price of $117.13.

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

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Fred Alger Management LLC purchased a new stake in shares of AppLovin during the 2nd quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC bought a new stake in AppLovin during the 1st quarter valued at $195,129,000. Jericho Capital Asset Management L.P. boosted its holdings in shares of AppLovin by 185.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares during the period. Finally, 1832 Asset Management L.P. grew its position in shares of AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after purchasing an additional 1,357,400 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on APP. Loop Capital lifted 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. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Stifel Nicolaus upped their price target on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler assumed coverage on AppLovin in a research note on Wednesday. They issued an “overweight” rating and a $400.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.96.

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.