AppLovin Co. (NASDAQ:APP) Director Sells $10,029,221.10 in Stock

AppLovin Co. (NASDAQ:APP) Director Eduardo Vivas sold 30,330 shares of AppLovin stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the completion of the sale, the director now owns 90,576 shares of the company’s stock, valued at $29,950,765.92. This represents a 25.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

AppLovin Price Performance

Shares of APP stock traded up $8.19 during trading on Friday, hitting $336.75. The company had a trading volume of 2,714,534 shares, compared to its average volume of 4,462,565. The stock’s 50-day moving average is $197.69 and its two-hundred day moving average is $123.96. The stock has a market capitalization of $113.01 billion, a price-to-earnings ratio of 102.05, a price-to-earnings-growth ratio of 4.05 and a beta of 1.86. 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 Co. has a 52 week low of $35.79 and a 52 week high of $344.77.

AppLovin (NASDAQ:APP) last issued its quarterly 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several hedge funds have recently added to or reduced their stakes in APP. Franklin Resources Inc. increased its position in shares of AppLovin by 37.0% during the 3rd quarter. Franklin Resources Inc. now owns 996,996 shares of the company’s stock valued at $130,158,000 after purchasing an additional 269,134 shares during the last quarter. Castellan Group purchased a new stake in AppLovin in the third quarter worth approximately $8,799,000. Optimist Retirement Group LLC purchased a new stake in AppLovin in the third quarter worth approximately $284,000. Wilmington Savings Fund Society FSB purchased a new position in shares of AppLovin during the third quarter worth approximately $833,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of AppLovin by 341.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,789 shares of the company’s stock worth $1,670,000 after acquiring an additional 9,891 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APP. Oppenheimer raised their price objective on shares of AppLovin from $260.00 to $480.00 and gave the company an “outperform” rating in a research note on Monday. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and boosted their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

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.