Herald Y. Chen Sells 99,000 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now owns 621,209 shares in the company, valued at $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

AppLovin Stock Down 0.5 %

Shares of NASDAQ APP opened at $324.47 on Friday. The stock has a market capitalization of $108.89 billion, a P/E ratio of 98.32, a PEG ratio of 4.17 and a beta of 2.28. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a one year low of $37.40 and a one year high of $417.64. The firm’s 50 day simple moving average is $246.00 and its two-hundred day simple moving average is $144.37.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS 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 company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. As a group, analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in AppLovin by 101.7% in the second quarter. SG Americas Securities LLC now owns 8,268 shares of the company’s stock valued at $688,000 after purchasing an additional 4,168 shares during the last quarter. Wedmont Private Capital bought a new stake in AppLovin in the 2nd quarter worth $200,000. Diversified Trust Co increased its position in shares of AppLovin by 20.8% in the second quarter. Diversified Trust Co now owns 4,059 shares of the company’s stock valued at $338,000 after acquiring an additional 700 shares during the period. Great Valley Advisor Group Inc. bought a new position in shares of AppLovin during the second quarter valued at about $231,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of AppLovin during the second quarter worth about $3,291,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Jefferies Financial Group raised their target price on AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler assumed coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. One equities 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. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $292.79.

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.