Herald Y. Chen Sells 50,000 Shares of AppLovin Corporation (NASDAQ:APP) Stock

Key Points

• Herald Y. Chen, a director at AppLovin Corporation, sold 50,000 shares of the company's stock for a total of $21.83 million, resulting in a 21.56% decrease in his ownership.
• AppLovin's stock has experienced a significant range over the past year, with a low of $82.51 and a high of $525.15, and currently has a market cap of $148.34 billion.
• The company reported a 67.1% year-over-year increase in revenue and a net margin of 45.72% in its latest quarterly earnings, though its revenue missed analyst estimates.

AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $436.61, for a total transaction of $21,830,500.00. Following the completion of the sale, the director owned 181,929 shares in the company, valued at approximately $79,432,020.69. The trade was a 21.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

AppLovin Stock Performance

APP traded down $0.14 during trading on Monday, hitting $438.54. 2,710,445 shares of the company traded hands, compared to its average volume of 6,043,302. The firm has a market cap of $148.34 billion, a P/E ratio of 63.49, a price-to-earnings-growth ratio of 2.45 and a beta of 2.43. The stock's fifty day moving average is $370.82 and its 200 day moving average is $342.91. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released 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 business had revenue of $1.26 billion for 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%. The company's revenue was up 77.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Institutional investors have recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC raised its stake in shares of AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after acquiring an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of AppLovin by 62.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after buying an additional 66,453 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after buying an additional 119 shares in the last quarter. Peak Retirement Planning Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at $969,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of AppLovin by 3.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock valued at $1,106,000 after buying an additional 121 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APP shares. Oppenheimer restated an "outperform" rating and issued a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Piper Sandler boosted their price target on shares of AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on shares of AppLovin from $405.00 to $480.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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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