Herald Y. Chen Sells 28,580 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 28,580 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $365.84, for a total transaction of $10,455,707.20. Following the sale, the director now directly owns 171,420 shares in the company, valued at approximately $62,712,292.80. This represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Herald Y. Chen also recently made the following trade(s):

• On Tuesday, May 13th, Herald Y. Chen sold 171,420 shares of AppLovin stock. The stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40.

AppLovin Price Performance

Shares of NASDAQ:APP traded down $9.93 during trading on Thursday, reaching $366.61. 6,314,973 shares of the company's stock traded hands, compared to its average volume of 6,021,378. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a 50-day simple moving average of $283.05 and a 200-day simple moving average of $316.16. The firm has a market cap of $124.63 billion, a PE ratio of 80.75, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. As a group, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in APP. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin during the 4th quarter worth about $25,000. Atala Financial Inc purchased a new position in AppLovin in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin in the 1st quarter worth about $27,000. Finally, Riverview Trust Co increased its stake in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APP. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Monday, April 21st. Piper Sandler increased their price objective on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Jefferies Financial Group lifted their target price on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report 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 report on Thursday, May 8th. Finally, Loop Capital restated a "buy" rating and set a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $433.85.

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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