Insider Selling: AppLovin Co. (NASDAQ:APP) Insider Sells 17,925 Shares of Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

AppLovin Trading Up 1.4 %

NASDAQ APP traded up $5.37 during trading hours on Thursday, reaching $379.07. The company had a trading volume of 6,377,156 shares, compared to its average volume of 4,485,905. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $397.47. The stock has a market capitalization of $127.21 billion, a P/E ratio of 114.87, a price-to-earnings-growth ratio of 4.52 and a beta of 2.28. The stock has a 50-day moving average of $215.80 and a 200 day moving average of $131.81. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. As a group, research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AppLovin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin in the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the third quarter worth $29,000. Finally, Quest Partners LLC purchased a new stake in AppLovin during the second quarter worth $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Bank of America upped their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company boosted their price target on AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Loop Capital increased their price objective on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, BTIG Research increased their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $275.84.

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.