AppLovin Co. (NASDAQ:APP) Director Sells $41,991,000.00 in Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 100,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the transaction, the director now owns 181,929 shares of the company's stock, valued at $76,393,806.39. This trade represents a 35.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Herald Y. Chen also recently made the following trade(s):

• On Tuesday, May 13th, Herald Y. Chen sold 171,420 shares of AppLovin stock. The stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40.

AppLovin Stock Up 0.9%

NASDAQ APP traded up $3.75 during trading hours on Friday, reaching $417.89. 5,234,009 shares of the company traded hands, compared to its average volume of 6,105,534. The company has a 50 day moving average of $308.46 and a two-hundred day moving average of $331.62. The stock 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. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business posted $0.67 EPS. The company's revenue for the quarter was up 40.3% on a year-over-year basis. As a group, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Institutional Trading of AppLovin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC acquired a new position in AppLovin during the fourth quarter valued at $294,000. DAVENPORT & Co LLC acquired a new position in shares of AppLovin during the 4th quarter worth $578,000. Greenleaf Trust acquired a new position in AppLovin in the 4th quarter valued at $273,000. U.S. Capital Wealth Advisors LLC acquired a new position in AppLovin in the 4th quarter valued at $204,000. Finally, Yousif Capital Management LLC grew its stake in AppLovin by 4.0% in the 4th quarter. Yousif Capital Management LLC now owns 3,425 shares of the company's stock valued at $1,109,000 after buying an additional 132 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Benchmark restated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. Wells Fargo & Company lifted their price objective on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Oppenheimer reiterated an "outperform" rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Piper Sandler raised their price target on shares of AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of AppLovin in a report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company 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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