AppLovin Co. (NASDAQ:APP) CTO Sells $4,228,875.00 in Stock

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

AppLovin Price Performance

APP opened at $292.89 on Friday. The stock’s 50 day simple moving average is $357.00 and its 200 day simple moving average is $266.70. 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 1 year low of $60.67 and a 1 year high of $525.15. The firm has a market cap of $99.57 billion, a price-to-earnings ratio of 64.51, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on APP shares. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Stifel Nicolaus raised their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. The Goldman Sachs Group raised their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Hedge Funds Weigh In On AppLovin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in shares of AppLovin by 150.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock worth $133,000 after buying an additional 613 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $25,000. Assetmark Inc. grew its position in shares of AppLovin by 131.8% in the 3rd quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock worth $1,258,000 after buying an additional 5,480 shares during the last quarter. Atria Investments Inc bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $574,000. Finally, Legacy Capital Wealth Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $268,000. 41.85% of the stock is currently owned by 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.