AppLovin (NASDAQ:APP) CTO Vasily Shikin Sells 62,804 Shares

Key Points

• AppLovin CTO Vasily Shikin sold 62,804 shares on May 22 at an average price of $484.42, totaling about $30.4 million. The sale reduced his ownership by 1.93%, though he still holds more than 3.18 million shares.
• AppLovin stock jumped 10.4% in trading, reaching $567.83 amid elevated volume. The company now has a market cap of about $190.8 billion and remains well above its 50-day average.
• The company posted strong quarterly results, with EPS of $3.56 and revenue of $1.84 billion, both beating analyst estimates. Revenue rose 58.9% year over year, and analysts currently rate the stock a “Moderate Buy” with a consensus target of $664.35.

AppLovin Corporation (NASDAQ:APP - Get Free Report) CTO Vasily Shikin sold 62,804 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the completion of the transaction, the chief technology officer directly owned 3,189,739 shares of the company's stock, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, May 22nd, Vasily Shikin sold 8,112 shares of AppLovin stock. The shares were sold at an average price of $483.67, for a total transaction of $3,923,531.04.
• On Friday, May 22nd, Vasily Shikin sold 15,915 shares of AppLovin stock. The shares were sold at an average price of $483.99, for a total transaction of $7,702,700.85.
• On Friday, May 22nd, Vasily Shikin sold 2,889 shares of AppLovin stock. The shares were sold at an average price of $488.90, for a total transaction of $1,412,432.10.
• On Tuesday, March 10th, Vasily Shikin sold 5,231 shares of AppLovin stock. The shares were sold at an average price of $477.47, for a total transaction of $2,497,645.57.
• On Tuesday, March 10th, Vasily Shikin sold 62,804 shares of AppLovin stock. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72.
• On Tuesday, March 10th, Vasily Shikin sold 9,265 shares of AppLovin stock. The shares were sold at an average price of $486.31, for a total transaction of $4,505,662.15.
• On Tuesday, March 10th, Vasily Shikin sold 6,531 shares of AppLovin stock. The shares were sold at an average price of $489.05, for a total transaction of $3,193,985.55.
• On Tuesday, March 10th, Vasily Shikin sold 5,685 shares of AppLovin stock. The shares were sold at an average price of $490.89, for a total transaction of $2,790,709.65.
• On Tuesday, March 10th, Vasily Shikin sold 204 shares of AppLovin stock. The shares were sold at an average price of $513.65, for a total transaction of $104,784.60.

AppLovin Trading Up 10.4%

Shares of AppLovin stock traded up $53.59 during mid-day trading on Wednesday, hitting $567.83. 8,264,474 shares of the stock were exchanged, compared to its average volume of 5,558,949. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The stock has a market capitalization of $190.76 billion, a price-to-earnings ratio of 48.78, a price-to-earnings-growth ratio of 0.78 and a beta of 2.37. The company has a 50-day simple moving average of $448.06 and a 200 day simple moving average of $521.57. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The company's quarterly revenue was up 58.9% on a year-over-year basis. Research analysts forecast that AppLovin Corporation will post 15.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler raised their price target on shares of AppLovin from $650.00 to $665.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. The Goldman Sachs Group dropped their price objective on shares of AppLovin from $710.00 to $585.00 and set a "neutral" rating on the stock in a research note on Thursday, February 12th. Evercore reiterated a "buy" rating on shares of AppLovin in a research note on Friday, January 30th. Jefferies Financial Group dropped their price objective on shares of AppLovin from $860.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $664.35.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and a $720 price target on AppLovin, helping push the stock sharply higher as investors reacted to the upgraded bullish tone. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Reports also said Meta Platforms is not expected to bid on certain mobile ad traffic, which could leave more market share and pricing opportunity for AppLovin in mobile advertising. AppLovin (APP) Stock Trades Up, Here Is Why
• Neutral Sentiment: Additional market chatter highlighted AppLovin as one of the stocks making big moves and one of the day’s top performers, reinforcing the momentum behind the shares. Stocks making big moves yesterday: Allient, AutoZone, Redwire, Marvell Technology, and AppLovin
• Negative Sentiment: AppLovin CTO Vasily Shikin disclosed multiple stock sales totaling tens of thousands of shares at prices around the mid-$480s, trimming his holdings by a meaningful amount; insider selling can sometimes weigh on sentiment. Vasily Shikin insider transaction filings

Institutional Trading of AppLovin

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company's stock worth $16,926,746,000 after acquiring an additional 166,117 shares during the last quarter. State Street Corp grew its position in shares of AppLovin by 0.4% during the fourth quarter. State Street Corp now owns 11,904,843 shares of the company's stock worth $8,021,721,000 after acquiring an additional 52,377 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company's stock worth $4,817,269,000 after acquiring an additional 448,005 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company's stock worth $4,103,386,000 after acquiring an additional 212,349 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of AppLovin by 10.7% during the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company's stock worth $3,747,551,000 after acquiring an additional 538,806 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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