Insider Selling: AppLovin Corporation (NASDAQ:APP) Director Sells 32,991 Shares of Stock

Key Points

• AppLovin Corporation Director Herald Y. Chen sold 32,991 shares at an average price of $457.93, totaling approximately $15.1 million, reducing his ownership by 7.95%.
• The company reported $2.26 EPS for the last quarter, beating estimates, but had revenue of $1.26 billion, falling short of expectations of $1.37 billion.
• Despite the recent stock performance dip, research analysts maintain a consensus rating of "Moderate Buy" with an average target price of $472.33.

AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 32,991 shares of AppLovin stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $457.93, for a total value of $15,107,568.63. Following the sale, the director directly owned 381,929 shares in the company, valued at $174,896,746.97. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

AppLovin Trading Down 2.9%

Shares of AppLovin stock traded down $13.06 on Thursday, hitting $433.34. 4,999,386 shares of the company's stock traded hands, compared to its average volume of 6,094,792. The firm's 50-day moving average price is $370.02 and its two-hundred day moving average price is $342.07. The stock has a market capitalization of $146.64 billion, a PE ratio of 64.60, a price-to-earnings-growth ratio of 2.50 and a beta of 2.43. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. On average, research analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in APP. Revolve Wealth Partners LLC bought a new stake in shares of AppLovin during the 4th quarter valued at $294,000. Rockefeller Capital Management L.P. acquired a new position in shares of AppLovin in the 4th quarter valued at $3,996,000. SageView Advisory Group LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $234,000. Jump Financial LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $1,242,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of AppLovin in the 4th quarter valued at $389,000. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. JPMorgan Chase & Co. boosted their target price on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley boosted their target price on AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Finally, Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus target price 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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