AppLovin Co. (NASDAQ:APP) Insider Sells $2,437,340.65 in Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) insider Victoria Valenzuela sold 6,599 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $369.35, for a total transaction of $2,437,340.65. Following the sale, the insider now owns 344,256 shares in the company, valued at $127,150,953.60. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Victoria Valenzuela also recently made the following trade(s):

• On Monday, May 19th, Victoria Valenzuela sold 6,585 shares of AppLovin stock. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55.

AppLovin Trading Down 1.3%

NASDAQ:APP traded down $4.70 during trading hours on Wednesday, reaching $358.35. 7,554,897 shares of the company were exchanged, compared to its average volume of 6,035,830. The firm has a market cap of $121.26 billion, a price-to-earnings ratio of 78.93, a PEG ratio of 3.02 and a beta of 2.39. The stock has a 50 day simple moving average of $288.92 and a 200 day simple moving average of $321.26. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. 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 issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping 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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $0.67 EPS. The business's quarterly revenue was up 40.3% on a year-over-year basis. As a group, analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on APP shares. HSBC set a $436.00 price target on shares of AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Piper Sandler upped their target price on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $433.85.

Hedge Funds Weigh In On AppLovin

Large investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin during the fourth quarter worth approximately $25,000. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co raised its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new position in AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management grew its holdings in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

About AppLovin

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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