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

AppLovin Co. (NASDAQ:APP) Director Eduardo Vivas sold 30,330 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total value of $10,029,221.10. Following the completion of the sale, the director now directly owns 90,576 shares in the company, valued at approximately $29,950,765.92. This represents a 25.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

AppLovin Stock Up 2.5 %

APP stock opened at $336.75 on Friday. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $344.77. The stock has a market cap of $113.01 billion, a P/E ratio of 102.05, a PEG ratio of 4.05 and a beta of 1.86. The business’s 50-day moving average price is $197.69 and its 200-day moving average price is $123.96. 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 quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Loop Capital increased their target price on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Macquarie boosted their price target on AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer upped their target price on shares of AppLovin from $260.00 to $480.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, four have assigned 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, AppLovin has an average rating of “Moderate Buy” and an average target price of $265.57.

Hedge Funds Weigh In On AppLovin

Several large investors have recently made changes to their positions in APP. Franklin Resources Inc. boosted its stake in AppLovin by 37.0% during the third quarter. Franklin Resources Inc. now owns 996,996 shares of the company’s stock valued at $130,158,000 after buying an additional 269,134 shares during the last quarter. Castellan Group purchased a new position in shares of AppLovin in the third quarter valued at $8,799,000. Optimist Retirement Group LLC bought a new stake in AppLovin in the third quarter worth $284,000. Wilmington Savings Fund Society FSB bought a new position in AppLovin during the third quarter valued at $833,000. Finally, Sanctuary Advisors LLC grew its stake in shares of AppLovin by 341.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,789 shares of the company’s stock worth $1,670,000 after buying an additional 9,891 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.