AppLovin Co. (NASDAQ:APP) Director Sells $203,135.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the sale, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

AppLovin Trading Down 3.5 %

NASDAQ:APP opened at $326.21 on Friday. 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 $36.33 and a 52-week high of $417.64. The stock’s 50 day moving average price is $242.30 and its 200 day moving average price is $142.69. The company has a market capitalization of $109.47 billion, a PE ratio of 98.85, a P/E/G ratio of 4.95 and a beta of 2.27.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APP. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Piper Sandler began coverage on shares of AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, Bank of America raised their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $292.79.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Townsquare Capital LLC increased its position in AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after acquiring an additional 3,126 shares during the period. Second Half Financial Partners LLC acquired a new position in shares of AppLovin in the third quarter valued at approximately $224,000. State Street Corp raised its stake in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares during the period. Finally, Zacks Investment Management grew its position in AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after buying an additional 81,331 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.