Herald Y. Chen Sells 167,009 Shares of AppLovin Corporation (NASDAQ:APP) Stock

Key Points

• Herald Y. Chen, Director of AppLovin Corporation, sold 167,009 shares at an average price of $446.53, totaling approximately $74.57 million, reducing his ownership by 28.70%.
• AppLovin reported $2.26 EPS for the last quarter, surpassing the consensus estimate of $2.05, with revenue of $1.26 billion, though below the expected $1.37 billion.
• Analysts have mixed views on AppLovin, with ratings varying from a "strong buy" to a "neutral", and a consensus price target of $472.33.

AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 167,009 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $446.53, for a total value of $74,574,528.77. Following the transaction, the director directly owned 414,920 shares in the company, valued at $185,274,227.60. The trade was a 28.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

AppLovin Stock Performance

NASDAQ APP traded down $13.06 during trading on Thursday, hitting $433.34. The company's stock had a trading volume of 4,999,386 shares, compared to its average volume of 6,094,792. 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 firm has a 50 day moving average price of $370.02 and a 200 day moving average price of $342.07. The firm has a market cap of $146.64 billion, a P/E ratio of 64.60, a price-to-earnings-growth ratio of 2.50 and a beta of 2.43. AppLovin Corporation has a 52 week low of $82.51 and a 52 week high of $525.15.

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

Institutional Trading of AppLovin

A number of hedge funds have recently modified their holdings of APP. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the 4th quarter valued at $25,000. Atala Financial Inc acquired a new stake in AppLovin during the 1st quarter valued at $26,000. Hilltop National Bank acquired a new stake in AppLovin during the 2nd quarter valued at $26,000. LFA Lugano Financial Advisors SA acquired a new stake in AppLovin during the 2nd quarter valued at $26,000. Finally, Alpine Bank Wealth Management acquired a new stake in AppLovin during the 1st quarter valued at $27,000. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

APP has been the topic of several recent analyst reports. Wedbush reissued an "outperform" rating and set a $620.00 price target on shares of AppLovin in a research report on Thursday, August 7th. The Goldman Sachs Group upped their price target on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Jefferies Financial Group upped their price target on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley boosted their target price on AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $472.33.

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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