Matthew Stumpf Sells 9,714 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) CFO Matthew Stumpf sold 9,714 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $423.00, for a total value of $4,109,022.00. Following the completion of the sale, the chief financial officer now owns 192,421 shares in the company, valued at $81,394,083. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AppLovin Trading Up 0.9%

Shares of NASDAQ APP traded up $3.75 during midday trading on Friday, hitting $417.89. The stock had a trading volume of 5,234,009 shares, compared to its average volume of 6,105,534. The company has a market capitalization of $141.41 billion, a price-to-earnings ratio of 92.05, a PEG ratio of 3.02 and a beta of 2.53. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a fifty day moving average price of $308.46 and a 200 day moving average price of $331.62.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin's revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. On average, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Hawaiian Bank acquired a new stake in AppLovin during the 1st quarter valued at $1,017,000. Inspire Investing LLC acquired a new stake in shares of AppLovin during the first quarter valued at about $2,120,000. Strs Ohio acquired a new stake in shares of AppLovin during the first quarter valued at about $86,173,000. Advisors Capital Management LLC purchased a new stake in shares of AppLovin during the first quarter worth about $3,373,000. Finally, McAdam LLC lifted its stake in shares of AppLovin by 54.6% in the first quarter. McAdam LLC now owns 1,940 shares of the company's stock worth $514,000 after acquiring an additional 685 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Morgan Stanley raised their price target on AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Loop Capital reissued a "buy" rating and issued a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. Piper Sandler raised their price target on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Bank of America raised their price target on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average 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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