AppLovin (NASDAQ:APP) Director Maynard Webb Jr Sells 3,076 Shares of Stock

Key Points

• AppLovin director Maynard Webb Jr. sold 3,076 shares on July 6 at an average price of $521.29, totaling about $1.6 million. After the sale, he still held 120,444 shares valued at roughly $62.8 million.
• AppLovin shares were trading around $522.18 on Wednesday, near the company’s 50-day and 200-day moving averages and well below its 52-week high of $745.61.
• The company recently posted better-than-expected earnings, with Q1 EPS of $3.56 versus $3.44 expected and revenue of $1.84 billion, up 58.9% year over year. Analysts currently rate the stock a consensus Moderate Buy with an average target price of $668.45.

AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Maynard Webb, Jr. sold 3,076 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the transaction, the director directly owned 120,444 shares in the company, valued at $62,786,252.76. This represents a 2.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AppLovin Price Performance

Shares of APP traded down $5.80 during trading hours on Wednesday, hitting $522.18. 4,825,912 shares of the company were exchanged, compared to its average volume of 5,520,233. The company has a market capitalization of $175.42 billion, a PE ratio of 44.86, a PEG ratio of 0.88 and a beta of 2.49. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a fifty day simple moving average of $505.22 and a 200-day simple moving average of $501.73. AppLovin Corporation has a one year low of $332.32 and a one year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the previous year, the firm posted $1.67 EPS. The company's quarterly revenue was up 58.9% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current year.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company's stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Corient Private Wealth LLC lifted its position in AppLovin by 3,118.6% in the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company's stock worth $2,826,049,000 after buying an additional 4,063,763 shares in the last quarter. Norges Bank acquired a new stake in shares of AppLovin during the 4th quarter valued at $2,040,321,000. Capital Research Global Investors acquired a new stake in shares of AppLovin during the 3rd quarter valued at $743,899,000. Finally, Northern Trust Corp grew its holdings in shares of AppLovin by 46.8% during the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company's stock valued at $1,706,144,000 after acquiring an additional 756,660 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APP has been the topic of several recent analyst reports. BTIG Research restated a "buy" rating and set a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Piper Sandler reissued an "overweight" rating on shares of AppLovin in a research report on Tuesday. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday, June 10th. Argus started coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a "buy" rating and a $520.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $500.00 to $515.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $668.45.

AppLovin Company Profile

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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