AppLovin Co. (NASDAQ:APP) Insider Sells $5,000,040.97 in Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Victoria Valenzuela also recently made the following trade(s):

• On Tuesday, December 3rd, Victoria Valenzuela sold 17,925 shares of AppLovin stock. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75.

AppLovin Stock Down 0.9 %

Shares of NASDAQ:APP opened at $341.83 on Wednesday. The company has a market cap of $114.72 billion, a price-to-earnings ratio of 103.59, a PEG ratio of 4.17 and a beta of 2.28. AppLovin Co. has a fifty-two week low of $37.40 and a fifty-two week high of $417.64. The firm’s 50-day simple moving average is $268.71 and its 200-day simple moving average is $155.82. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for 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%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, equities research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

Institutional Investors Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Fred Alger Management LLC purchased a new position in AppLovin in the 2nd quarter valued at approximately $290,655,000. 1832 Asset Management L.P. raised its holdings in AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC boosted its position in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after purchasing an additional 560,560 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APP. Jefferies Financial Group upped their target price on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Wells Fargo & Company boosted their target price on AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.71.

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.