Rep. Jefferson Shreve Sells Off Shares of AppLovin Corporation (NASDAQ:APP)

Representative Jefferson Shreve (R-Indiana) recently sold shares of AppLovin Corporation NASDAQ: APP. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in AppLovin stock on May 12th.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.
• Sold $100,001 - $250,000 in shares of Walmart NYSE: WMT on 5/12/2025.

AppLovin Price Performance

AppLovin stock traded up $10.89 during mid-day trading on Wednesday, hitting $360.89. The company's stock had a trading volume of 2,361,116 shares, compared to its average volume of 6,279,323. The stock's fifty day moving average price is $362.51 and its two-hundred day moving average price is $335.12. The stock has a market capitalization of $122.12 billion, a P/E ratio of 65.05, a P/E/G ratio of 2.17 and a beta of 2.42. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently modified their holdings of APP. Hilltop National Bank bought a new stake in AppLovin during the 2nd quarter worth about $26,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin during the 4th quarter worth approximately $25,000. Riverview Trust Co lifted its holdings in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in AppLovin in the 4th quarter valued at approximately $28,000. Finally, Smithfield Trust Co acquired a new stake in shares of AppLovin during the fourth quarter worth $32,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on APP shares. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Piper Sandler reiterated an "overweight" rating and set a $470.00 target price (up from $455.00) on shares of AppLovin in a research report on Thursday, June 26th. Benchmark restated a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. Oppenheimer restated an "outperform" rating and set a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Finally, UBS Group upped 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average target price of $447.57.

Insider Activity at AppLovin

In related news, Director Barbara Messing sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total transaction of $573,690.00. Following the completion of the transaction, the director owned 9,510 shares of the company's stock, valued at approximately $3,637,194.60. The trade was a 13.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $4,109,022.00. Following the sale, the chief financial officer owned 192,421 shares of the company's stock, valued at $81,394,083. This represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock valued at $455,062,980 over the last 90 days. 13.66% of the stock is owned by company insiders.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.