AppLovin (NASDAQ:APP) Shares Gap Down on Insider Selling

AppLovin Co. (NASDAQ:APP - Get Free Report) shares gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $417.89, but opened at $401.25. AppLovin shares last traded at $393.70, with a volume of 1,652,677 shares traded.

Specifically, Director Dawson Alyssa Harvey sold 513 shares of AppLovin stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the sale, the director now owns 3,451 shares in the company, valued at approximately $1,450,455.30. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 2,987 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $413.98, for a total transaction of $1,236,558.26. Following the sale, the director now owns 3,964 shares in the company, valued at approximately $1,641,016.72. This trade represents a 42.97% decrease in their position. The disclosure for this sale can be found here. In other AppLovin news, Director Herald Y. Chen sold 100,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the completion of the sale, the director now directly owns 181,929 shares in the company, valued at $76,393,806.39. This represents a 35.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A number of brokerages recently weighed in on APP. The Goldman Sachs Group upped their price target on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Loop Capital restated a "buy" rating and issued a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. Wells Fargo & Company raised their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Piper Sandler lifted their price target on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, HSBC set a $436.00 price objective on AppLovin and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $436.10.

AppLovin Stock Performance

The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a fifty day simple moving average of $311.16 and a 200 day simple moving average of $332.43. The company has a market cap of $134.49 billion, a price-to-earnings ratio of 87.09, a P/E/G ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the 4th quarter worth $25,000. Atala Financial Inc acquired a new stake in AppLovin during the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new position in AppLovin in the first quarter valued at approximately $27,000. Riverview Trust Co boosted its holdings in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares during the period. Finally, Tucker Asset Management LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $28,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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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