AppLovin Co. (NASDAQ:APP) Insider Sells $2,437,964.55 in Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the completion of the sale, the insider now directly owns 357,903 shares in the company, valued at approximately $132,506,427.69. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, May 21st, Victoria Valenzuela sold 6,599 shares of AppLovin stock. The shares were sold at an average price of $369.35, for a total transaction of $2,437,340.65.

AppLovin Trading Up 0.8%

Shares of AppLovin stock traded up $2.82 on Friday, hitting $354.29. The stock had a trading volume of 5,314,732 shares, compared to its average volume of 6,051,823. 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 one year low of $60.67 and a one year high of $525.15. The stock has a market cap of $119.89 billion, a price-to-earnings ratio of 78.04, a PEG ratio of 3.02 and a beta of 2.39. The stock's 50-day simple moving average is $292.64 and its two-hundred day simple moving average is $324.15.

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, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the business earned $0.67 earnings per share. The business's revenue was up 40.3% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on APP. The Goldman Sachs Group raised their target price 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. Wells Fargo & Company raised their target price on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Morgan Stanley raised their target price on shares of AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Loop Capital reaffirmed a "buy" rating and issued a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. Finally, Citigroup raised their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $433.85.

Institutional Trading of AppLovin

Several large investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC boosted its holdings in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in AppLovin by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after acquiring an additional 31 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after acquiring an additional 33 shares in the last quarter. Forum Financial Management LP boosted its holdings in AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after acquiring an additional 33 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in AppLovin by 0.8% in the first quarter. Vestcor Inc now owns 4,108 shares of the company's stock valued at $1,088,000 after acquiring an additional 33 shares in the last quarter. Institutional investors 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.