Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 2,987 Shares of Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) Director Dawson Alyssa Harvey sold 2,987 shares of the business's stock in a transaction 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 $1,641,016.72. The trade was a 42.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Dawson Alyssa Harvey also recently made the following trade(s):

• On Friday, June 6th, Dawson Alyssa Harvey sold 513 shares of AppLovin stock. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90.
• On Tuesday, May 13th, Dawson Alyssa Harvey sold 570 shares of AppLovin stock. The stock was sold at an average price of $371.12, for a total transaction of $211,538.40.

AppLovin Trading Up 0.9%

Shares of APP traded up $3.75 on Friday, hitting $417.89. 5,234,009 shares of the stock traded hands, compared to its average volume of 6,105,534. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock's 50 day moving average is $308.46 and its two-hundred day moving average is $331.62. The firm has a market capitalization of $141.41 billion, a P/E ratio of 92.05, a P/E/G ratio of 3.02 and a beta of 2.53. 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 (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $0.67 EPS. AppLovin's revenue was up 40.3% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently made changes to their positions in the business. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the 4th quarter worth about $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin during the 4th quarter worth about $25,000. Atala Financial Inc purchased a new position in shares of AppLovin during the 1st quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin in the first quarter worth approximately $27,000. Finally, Riverview Trust Co grew its holdings in 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 purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on APP. FBN Securities initiated coverage on shares of AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target for the company. Piper Sandler lifted their price objective on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Loop Capital reiterated a "buy" rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. Citigroup reissued a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Finally, Benchmark reaffirmed a "buy" rating and set a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued 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, AppLovin presently has a consensus rating of "Moderate Buy" and an average price target of $436.10.

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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