AppLovin Co. (NASDAQ:APP) Director Sells $5,740,920.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares in the company, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

AppLovin Stock Up 4.7 %

Shares of NASDAQ:APP opened at $333.31 on Friday. The firm has a 50 day simple moving average of $181.30 and a 200 day simple moving average of $117.13. AppLovin Co. has a 52 week low of $35.79 and a 52 week 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 company has a market cap of $111.86 billion, a PE ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, research analysts expect that AppLovin Co. will post 4.05 earnings per share for the current year.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares during the last quarter. HM Payson & Co. raised its holdings in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares during the last quarter. Finally, Ashton Thomas Securities LLC grew its stake in AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APP has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “sell” rating and issued a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. Jefferies Financial Group increased their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Macquarie upped their price objective on AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, Bank of America increased their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.