Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 400,000 Shares of Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the sale, the director now owns 221,209 shares in the company, valued at $82,867,103.49. This trade represents a 64.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $373.77, for a total value of $64,071,653.40.

AppLovin Price Performance

NASDAQ APP traded down $9.93 during trading on Thursday, reaching $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 firm has a fifty 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 capitalization of $124.63 billion, a PE ratio of 80.75, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

Institutional Trading of AppLovin

Hedge funds have recently added to or reduced their stakes in the business. Federation des caisses Desjardins du Quebec increased its holdings in shares of AppLovin by 36.1% in the first quarter. Federation des caisses Desjardins du Quebec now owns 17,123 shares of the company's stock worth $4,537,000 after buying an additional 4,541 shares during the period. Contour Asset Management LLC bought a new position in AppLovin during the 1st quarter worth approximately $45,273,000. Durable Capital Partners LP purchased a new position in AppLovin in the 1st quarter worth approximately $88,913,000. Newbrook Capital Advisors LP boosted its stake in shares of AppLovin by 35.1% during the first quarter. Newbrook Capital Advisors LP now owns 90,891 shares of the company's stock valued at $24,083,000 after purchasing an additional 23,612 shares during the period. Finally, Focus Partners Advisor Solutions LLC boosted its stake in shares of AppLovin by 6.1% during the first quarter. Focus Partners Advisor Solutions LLC now owns 2,187 shares of the company's stock valued at $580,000 after purchasing an additional 125 shares during the period. 41.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Bank of America upped their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, UBS Group lifted their price objective on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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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