AppLovin (NASDAQ:APP) Director Sells $170,789.50 in Stock

Key Points

• AppLovin Director Sale: Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock for $170,789.50, reducing her position by 10%, and now holds 3,150 shares valued at approximately $1.54 million.
• Quarterly Earnings Report: AppLovin posted earnings of $2.26 per share, surpassing analyst expectations of $2.05, with revenue of $1.26 billion, though this was below the expected $1.37 billion.
• Analyst Ratings: AppLovin holds a consensus rating of "Moderate Buy," with various analyst price targets ranging from $425.00 to $525.00 following recent upgrades and downgrades.

AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Dawson Alyssa Harvey sold 350 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $487.97, for a total value of $170,789.50. Following the completion of the sale, the director owned 3,150 shares of the company's stock, valued at $1,537,105.50. The trade was a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

AppLovin Price Performance

APP stock traded down $9.73 during trading on Friday, reaching $490.24. The company's stock had a trading volume of 8,102,116 shares, compared to its average volume of 7,004,696. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market capitalization of $165.82 billion, a P/E ratio of 69.64, a price-to-earnings-growth ratio of 2.72 and a beta of 2.44. The company's fifty day moving average is $398.93 and its 200-day moving average is $348.84.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business posted $0.89 EPS. AppLovin's revenue for the quarter was up 77.1% compared to the same quarter last year. On average, research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Institutional Trading of AppLovin

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in AppLovin by 0.4% in the second quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company's stock worth $6,267,410,000 after purchasing an additional 72,120 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the last quarter. State Street Corp raised its stake in shares of AppLovin by 2.4% during the second quarter. State Street Corp now owns 5,615,415 shares of the company's stock valued at $1,965,844,000 after acquiring an additional 133,402 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after acquiring an additional 1,185,859 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of AppLovin by 32.9% during the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock valued at $1,062,876,000 after acquiring an additional 992,316 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Benchmark reiterated a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Scotiabank restated an "outperform" rating on shares of AppLovin in a research report on Thursday, August 28th. Finally, BTIG Research raised their price objective on AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $482.86.

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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