Insider Selling: AppLovin (NASDAQ:APP) Insider Sells 35,000 Shares of Stock

Key Points

• Insider Victoria Valenzuela sold 35,000 shares of AppLovin stock for approximately $17.58 million, reducing her stake by 11.48%.
• AppLovin's stock price declined by $9.73 during Friday's trading, bringing it down to $490.24 per share.
• The company's recent quarterly earnings show a net margin of 45.72%, but revenue fell short of analysts' expectations.

AppLovin Corporation (NASDAQ:APP - Get Free Report) insider Victoria Valenzuela sold 35,000 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider directly owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. This represents a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Victoria Valenzuela also recently made the following trade(s):

• On Monday, August 25th, Victoria Valenzuela sold 15,000 shares of AppLovin stock. The shares were sold at an average price of $450.00, for a total value of $6,750,000.00.
• On Thursday, August 21st, Victoria Valenzuela sold 16,599 shares of AppLovin stock. The stock was sold at an average price of $416.71, for a total value of $6,916,969.29.

AppLovin Stock Performance

AppLovin stock traded down $9.73 during trading hours on Friday, hitting $490.24. 8,102,116 shares of the stock traded hands, compared to its average volume of 7,004,696. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm's 50 day moving average price is $398.93 and its 200-day moving average price is $348.84. The stock has a market capitalization of $165.82 billion, a price-to-earnings ratio of 69.64, a P/E/G ratio of 2.72 and a beta of 2.44. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last announced 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. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the previous year, the business posted $0.89 EPS. The business's quarterly revenue was up 77.1% compared to the same quarter last year. As a group, equities analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of AppLovin during the 2nd quarter valued at about $951,541,000. Dynasty Wealth Management LLC boosted its position in shares of AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock valued at $716,133,000 after acquiring an additional 2,700,399 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock valued at $1,745,752,000 after acquiring an additional 1,769,400 shares during the last quarter. Vanguard Group Inc. lifted its position in AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after buying an additional 1,213,536 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on APP shares. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. BTIG Research lifted their price objective on shares of AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Piper Sandler increased their target price on shares of AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, UBS Group increased their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $482.86.

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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