Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 200,000 Shares of Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $372.65, for a total value of $74,530,000.00. Following the completion of the sale, the director now owns 221,209 shares of the company's stock, valued at $82,433,533.85. The trade was a 47.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 value of $64,071,653.40.

AppLovin Trading Down 2.6%

AppLovin stock traded down $9.93 during mid-day trading on Thursday, hitting $366.61. The company's stock had a trading volume of 6,314,973 shares, compared to its average volume of 6,021,378. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a 50 day moving average of $283.05 and a 200-day moving average of $316.16. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The stock 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. On average, research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Oxinas Partners Wealth Management LLC purchased a new stake in AppLovin in the fourth quarter worth about $1,081,000. Barclays PLC grew its stake in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares during the last quarter. Tcfg Wealth Management LLC bought a new position in AppLovin in the fourth quarter worth about $369,000. Caprock Group LLC lifted its position in shares of AppLovin by 42.2% during the fourth quarter. Caprock Group LLC now owns 42,146 shares of the company's stock valued at $13,648,000 after buying an additional 12,500 shares during the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of AppLovin during the fourth quarter valued at about $382,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup upped their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and issued a $500.00 target price (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. HSBC set a $436.00 price target on AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group lifted their price objective on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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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