AppLovin (NASDAQ:APP) Insider Sells $6,916,969.29 in Stock

Key Points

• AppLovin insider Victoria Valenzuela sold 16,599 shares for approximately $6.92 million, reducing her ownership by 4.93% to 319,955 shares.
• The company's stock traded up 5.5% on Friday, reaching $441.68, with a market capitalization of $149.40 billion.
• AppLovin reported a Q2 earnings per share (EPS) of $2.26, exceeding estimates, despite revenues of $1.26 billion falling short of consensus expectations.

AppLovin Corporation (NASDAQ:APP - Get Free Report) insider Victoria Valenzuela sold 16,599 shares of AppLovin stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $416.71, for a total transaction of $6,916,969.29. Following the completion of the transaction, the insider directly owned 319,955 shares in the company, valued at approximately $133,328,448.05. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

AppLovin Trading Up 5.5%

APP traded up $22.92 during trading on Friday, hitting $441.68. 6,199,963 shares of the stock traded hands, compared to its average volume of 6,240,730. The firm has a market capitalization of $149.40 billion, a P/E ratio of 62.74, a price-to-earnings-growth ratio of 2.34 and a beta of 2.43. AppLovin Corporation has a 12-month low of $82.51 and a 12-month high of $525.15. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a 50-day moving average of $375.38 and a 200 day moving average of $345.14.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of APP. Revolve Wealth Partners LLC bought a new stake in AppLovin in the 4th quarter worth about $294,000. Stifel Financial Corp grew its stake in shares of AppLovin by 2.3% in the fourth quarter. Stifel Financial Corp now owns 120,253 shares of the company's stock worth $38,941,000 after acquiring an additional 2,752 shares during the period. IHT Wealth Management LLC raised its holdings in shares of AppLovin by 4.0% during the fourth quarter. IHT Wealth Management LLC now owns 2,514 shares of the company's stock valued at $814,000 after purchasing an additional 97 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of AppLovin by 93.0% during the fourth quarter. Hsbc Holdings PLC now owns 154,590 shares of the company's stock valued at $50,082,000 after purchasing an additional 74,510 shares during the last quarter. Finally, MGO One Seven LLC bought a new position in AppLovin during the fourth quarter valued at approximately $308,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on APP shares. Jefferies Financial Group increased their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Thursday, June 26th. Oppenheimer reaffirmed an "outperform" rating and issued a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, Piper Sandler increased their price objective on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average target price of $472.86.

About AppLovin

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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