AppLovin Co. (NASDAQ:APP) CFO Sells $146,464.00 in Stock

AppLovin Co. (NASDAQ:APP) CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

AppLovin Trading Down 6.3 %

APP traded down $21.48 during midday trading on Tuesday, reaching $321.06. 9,008,933 shares of the company’s stock traded hands, compared to its average volume of 4,577,098. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a fifty day moving average of $230.54 and a two-hundred day moving average of $138.34. The stock has a market capitalization of $107.75 billion, a price-to-earnings ratio of 100.91, a P/E/G ratio of 4.95 and a beta of 2.27.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 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 the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on APP shares. BTIG Research lifted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup upped their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Stifel Nicolaus raised their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Loop Capital upped their price objective on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Macquarie raised their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Hedge Funds Weigh In On AppLovin

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in AppLovin by 622.8% in the third 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 in the last quarter. Fred Alger Management LLC bought a new position in shares of AppLovin in the 2nd quarter worth about $290,655,000. 1832 Asset Management L.P. increased its stake in shares of AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares in the last quarter. WCM Investment Management LLC lifted its position in AppLovin by 10.5% during the 3rd 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 during the period. Finally, Janus Henderson Group PLC boosted its stake in AppLovin by 31.3% during the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after acquiring an additional 560,560 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

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.