AppLovin Co. (NASDAQ:APP) Director Sells $215,613.90 in Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the transaction, the director now owns 3,451 shares in the company, valued at approximately $1,450,455.30. The trade was a 12.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Dawson Alyssa Harvey also recently made the following trade(s):

• On Thursday, June 5th, Dawson Alyssa Harvey sold 2,987 shares of AppLovin stock. The shares were sold at an average price of $413.98, for a total transaction of $1,236,558.26.
• On Tuesday, May 13th, Dawson Alyssa Harvey sold 570 shares of AppLovin stock. The shares were sold at an average price of $371.12, for a total transaction of $211,538.40.

AppLovin Stock Performance

Shares of AppLovin stock traded up $3.75 on Friday, reaching $417.89. 5,234,009 shares of the company traded hands, compared to its average volume of 6,105,534. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a 50 day moving average of $308.46 and a 200 day moving average of $331.62. The firm has a market capitalization of $141.41 billion, a PE ratio of 92.05, a PEG ratio of 3.02 and a beta of 2.53. 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 results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. Equities analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Hedge Funds Weigh In On AppLovin

Institutional investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin in the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new position in AppLovin in the 4th quarter worth approximately $25,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new position in AppLovin in the 4th quarter worth approximately $28,000. Finally, Hemington Wealth Management grew its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on APP. Loop Capital restated a "buy" rating and issued a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group lifted their price target on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus price target of $436.10.

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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