Matthew Stumpf Sells 4,874 Shares of AppLovin (NASDAQ:APP) Stock

Key Points

• Matthew Stumpf, CFO of AppLovin, sold **4,874 shares** of the company's stock on August 21 for a total of **$2,028,461.32**, reducing his stake by **2.61%**.
• Shares of AppLovin traded up **5.5%** to **$441.68** following a recent earnings report that showed a **77.1% year-over-year revenue increase**, despite a sales miss compared to analysts' expectations.
• Wall Street analysts maintain a generally positive outlook on AppLovin, with the stock receiving a consensus **"Moderate Buy"** rating and an average target price of **$472.86**.

AppLovin Corporation (NASDAQ:APP - Get Free Report) CFO Matthew Stumpf sold 4,874 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $416.18, for a total value of $2,028,461.32. Following the transaction, the chief financial officer owned 181,657 shares in the company, valued at approximately $75,602,010.26. This represents a 2.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Matthew Stumpf also recently made the following trade(s):

• On Friday, June 6th, Matthew Stumpf sold 9,714 shares of AppLovin stock. The stock was sold at an average price of $423.00, for a total value of $4,109,022.00.

AppLovin Trading Up 5.5%

Shares of APP stock traded up $22.92 during trading hours on Friday, reaching $441.68. The company's stock had a trading volume of 6,199,963 shares, compared to its average volume of 6,240,730. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15. The stock has a market capitalization of $149.40 billion, a P/E ratio of 62.74, a P/E/G ratio of 2.34 and a beta of 2.43. The firm's fifty day simple moving average is $375.38 and its 200 day simple moving average is $345.14.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. UBS Group lifted their price objective on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Finally, Wells Fargo & Company lifted their price target on AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $472.86.

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Avestar Capital LLC boosted its position in AppLovin by 2.1% in the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company's stock valued at $391,000 after buying an additional 23 shares during the period. Forum Financial Management LP boosted its position in AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after buying an additional 33 shares during the period. Vestcor Inc boosted its position in AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock valued at $1,088,000 after buying an additional 33 shares during the period. RWA Wealth Partners LLC boosted its position in AppLovin by 0.4% in the 2nd quarter. RWA Wealth Partners LLC now owns 7,680 shares of the company's stock valued at $2,689,000 after buying an additional 33 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in AppLovin by 0.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,431 shares of the company's stock valued at $1,551,000 after buying an additional 33 shares during the period. 41.85% of the stock is currently owned by institutional investors.

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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