AppLovin Co. (NASDAQ:APP) Director Sells $211,538.40 in Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) Director Dawson Alyssa Harvey sold 570 shares of AppLovin stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $371.12, for a total transaction of $211,538.40. Following the completion of the transaction, the director now owns 6,231 shares in the company, valued at approximately $2,312,448.72. This trade represents a 8.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

AppLovin Price Performance

Shares of AppLovin stock traded down $9.93 during trading on Thursday, hitting $366.61. The stock had a trading volume of 6,314,973 shares, compared to its average volume of 6,021,378. The business has a fifty day moving average of $283.05 and a two-hundred day moving average of $316.16. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The firm has a market cap of $124.63 billion, a P/E ratio of 80.75, a PEG ratio of 3.02 and a beta of 2.39. 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 (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business's revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. On average, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APP. Benchmark reissued a "buy" rating and set a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group increased their price target on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued 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 an average target price of $433.85.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oxinas Partners Wealth Management LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at approximately $1,081,000. Barclays PLC raised its position in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after buying an additional 153,248 shares during the period. Tcfg Wealth Management LLC purchased a new stake in AppLovin in the 4th quarter worth about $369,000. Caprock Group LLC boosted its position in AppLovin by 42.2% during the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company's stock worth $13,648,000 after acquiring an additional 12,500 shares during the period. Finally, Aaron Wealth Advisors LLC purchased a new position in AppLovin during the 4th quarter valued at about $382,000. Institutional investors and hedge funds 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.

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