Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 1,500 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. The sale was disclosed in a filing with the SEC, which is available at this link.

AppLovin Price Performance

APP stock opened at $105.61 on Friday. The firm has a 50 day simple moving average of $83.57 and a two-hundred day simple moving average of $77.74. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market cap of $35.30 billion, a PE ratio of 62.86, a P/E/G ratio of 1.41 and a beta of 1.88. AppLovin Co. has a one year low of $34.45 and a one year high of $106.45.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was up 44.0% compared to the same quarter last year. On average, analysts predict that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Hedge Funds Weigh In On AppLovin

Institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after purchasing an additional 248,022 shares during the last quarter. Gulf International Bank UK Ltd purchased a new stake in AppLovin during the 1st quarter valued at about $1,131,000. Acadian Asset Management LLC grew its position in AppLovin by 2,081.4% during the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after acquiring an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after purchasing an additional 10,099 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in AppLovin in the second quarter valued at approximately $1,195,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on APP. Wedbush lowered their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group increased their price objective on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday. BTIG Research lifted their target price on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday. Bank of America upped their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Benchmark raised their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.78.

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.