AppLovin (NASDAQ:APP) CTO Sells $13,127,100.00 in Stock

Key Points

• AppLovin CTO Vasily Shikin sold 30,000 shares for a total of $13,127,100 on August 22nd, resulting in a 0.88% decrease in his ownership.
• Despite the recent stock sale, AppLovin's stock traded up to $441.68, with a market capitalization of $149.40 billion and a 52-week trading range of $82.51 to $525.15.
• AppLovin reported earnings per share of $2.26 for the latest quarter, exceeding analyst expectations of $2.05, although their revenue of $1.26 billion fell short of the forecast of $1.37 billion.

AppLovin Corporation (NASDAQ:APP - Get Free Report) CTO Vasily Shikin sold 30,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the sale, the chief technology officer owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Vasily Shikin also recently made the following trade(s):

• On Friday, August 22nd, Vasily Shikin sold 17,012 shares of AppLovin stock. The stock was sold at an average price of $438.22, for a total value of $7,454,998.64.
• On Friday, August 22nd, Vasily Shikin sold 17,924 shares of AppLovin stock. The stock was sold at an average price of $437.03, for a total value of $7,833,325.72.
• On Friday, August 22nd, Vasily Shikin sold 17,564 shares of AppLovin stock. The stock was sold at an average price of $437.48, for a total value of $7,683,898.72.

AppLovin Price Performance

APP traded up $22.92 on Friday, reaching $441.68. The stock had a trading volume of 6,199,963 shares, compared to its average volume of 6,240,730. AppLovin Corporation has a fifty-two week low of $82.51 and a fifty-two week high of $525.15. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market capitalization of $149.40 billion, a price-to-earnings ratio of 60.60, a price-to-earnings-growth ratio of 2.34 and a beta of 2.43. The firm has a 50-day moving average of $373.84 and a 200-day moving average of $344.71.

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

Institutional Trading of AppLovin

A number of hedge funds have recently bought and sold shares of the business. Kingswood Wealth Advisors LLC raised its stake in shares of AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock valued at $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in AppLovin by 62.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after buying an additional 66,453 shares in the last quarter. Yousif Capital Management LLC grew its position in AppLovin by 3.5% during the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after buying an additional 119 shares in the last quarter. Peak Retirement Planning Inc. purchased a new position in shares of AppLovin in the 4th quarter worth about $969,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after purchasing an additional 121 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APP. Wedbush restated an "outperform" rating and set a $620.00 price objective on shares of AppLovin in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Morgan Stanley raised their target price on AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Wells Fargo & Company raised their target price on AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen cut AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $472.86.

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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