AppLovin Corporation (NASDAQ:APP) Director Sells $58,250,000.00 in Stock

Key Points

• Eduardo Vivas, a director at AppLovin Corporation, sold 125,000 shares of the company's stock for a total of $58.25 million, resulting in a 1.69% decrease in his holdings.
• AppLovin reported $2.26 earnings per share for its most recent quarter, outperforming the consensus estimate of $2.05, but the company's revenue of $1.26 billion fell short of the expected $1.37 billion.
• AppLovin's stock has seen a wide trading range over the past year, with a 12-month low of $82.51 and a high of $525.15, currently trading around $433.34.

AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Eduardo Vivas sold 125,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the sale, the director directly owned 7,283,292 shares in the company, valued at $3,394,014,072. This represents a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

AppLovin Price Performance

Shares of NASDAQ:APP traded down $13.06 during midday trading on Thursday, hitting $433.34. 4,999,386 shares of the stock were exchanged, compared to its average volume of 6,094,792. The company has a 50 day moving average price of $370.02 and a 200-day moving average price of $342.07. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15. The stock has a market cap of $146.64 billion, a P/E ratio of 64.60, a PEG ratio of 2.50 and a beta of 2.43. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The firm's revenue for the quarter was up 77.1% on a year-over-year basis. On average, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Avestar Capital LLC boosted its holdings in AppLovin by 2.1% in the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company's stock worth $391,000 after acquiring an additional 23 shares during the period. Forum Financial Management LP boosted its holdings in AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after acquiring an additional 33 shares during the period. Vestcor Inc raised its position in shares of AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock valued at $1,088,000 after purchasing an additional 33 shares in the last quarter. RWA Wealth Partners LLC raised its position in shares of AppLovin by 0.4% in the 2nd quarter. RWA Wealth Partners LLC now owns 7,680 shares of the company's stock valued at $2,689,000 after purchasing an additional 33 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position in shares of AppLovin by 32.7% in the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company's stock valued at $48,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APP. BTIG Research increased their price target on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. Jefferies Financial Group raised their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, 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 report on Friday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $472.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.