AppLovin Corporation (NASDAQ:APP) Director Sells $84,838.00 in Stock

Key Points

• AppLovin Director Herald Y. Chen sold 200 shares for $84,838, reducing their stake slightly to 189,800 shares, valued at approximately $80.5 million.
• The company reported $2.26 earnings per share for the last quarter, exceeding analysts' estimates but generating $1.26 billion in revenue, which was below the expected $1.37 billion.
• Institutional investors have increased holdings in AppLovin, with Hudson Bay Capital Management raising their stake by 288.6% in the second quarter.

AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 200 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $424.19, for a total transaction of $84,838.00. Following the completion of the transaction, the director directly owned 189,800 shares in the company, valued at approximately $80,511,262. The trade was a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AppLovin Stock Down 0.0%

NASDAQ:APP traded down $0.14 during mid-day trading on Monday, reaching $438.54. The company's stock had a trading volume of 2,710,445 shares, compared to its average volume of 6,043,302. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The stock has a fifty day moving average of $370.82 and a 200-day moving average of $342.91. The firm has a market capitalization of $148.34 billion, a PE ratio of 63.49, a price-to-earnings-growth ratio of 2.45 and a beta of 2.43. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The firm's revenue for the quarter was up 77.1% compared to the same quarter last year. Equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hudson Bay Capital Management LP increased its holdings in shares of AppLovin by 288.6% during the second quarter. Hudson Bay Capital Management LP now owns 33,323 shares of the company's stock valued at $11,666,000 after acquiring an additional 24,748 shares in the last quarter. Capital Impact Advisors LLC grew its stake in shares of AppLovin by 11.7% during the 2nd quarter. Capital Impact Advisors LLC now owns 37,759 shares of the company's stock worth $13,349,000 after purchasing an additional 3,955 shares during the period. Geneos Wealth Management Inc. grew its stake in AppLovin by 0.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,431 shares of the company's stock valued at $1,551,000 after acquiring an additional 33 shares during the period. Caxton Associates LLP acquired a new stake in AppLovin in the 2nd quarter valued at $3,656,000. Finally, Second Line Capital LLC lifted its holdings in AppLovin by 0.5% in the 2nd quarter. Second Line Capital LLC now owns 27,146 shares of the company's stock valued at $9,503,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group raised their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. HSBC set a $436.00 target price on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Oppenheimer reissued an "outperform" rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Wedbush restated an "outperform" rating and issued a $620.00 price target on shares of AppLovin in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus 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.

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