Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells $10,360,545.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $339.69, for a total transaction of $10,360,545.00. Following the transaction, the director now directly owns 154,500 shares of the company’s stock, valued at $52,482,105. The trade was a 16.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

AppLovin Stock Up 1.4 %

APP opened at $379.07 on Friday. 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 one year low of $35.79 and a one year high of $397.47. The firm 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 company has a fifty day moving average price of $215.80 and a 200-day moving average price of $131.81.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company earned $0.30 EPS. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. Equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Macquarie lifted their target price on AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Piper Sandler initiated coverage on AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Bank of America boosted their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Wells Fargo & Company increased their price objective on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.84.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI grew its holdings in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the period. Great Valley Advisor Group Inc. lifted its position in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after buying an additional 60 shares during the period. HM Payson & Co. boosted its holdings in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Aptus Capital Advisors LLC grew its position in shares of AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares during the period. Finally, Ashton Thomas Securities LLC increased its stake in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after acquiring an additional 121 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

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.