Insider Selling: AppLovin Co. (NASDAQ:APP) CTO Sells 34,766 Shares of Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the transaction, the chief technology officer now owns 70,889 shares in the company, valued at approximately $25,069,185.96. This trade represents a 32.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Vasily Shikin also recently made the following trade(s):

• On Friday, May 23rd, Vasily Shikin sold 17,734 shares of AppLovin stock. The shares were sold at an average price of $353.41, for a total transaction of $6,267,372.94.
• On Friday, May 23rd, Vasily Shikin sold 30,000 shares of AppLovin stock. The shares were sold at an average price of $353.56, for a total transaction of $10,606,800.00.
• On Monday, March 10th, Vasily Shikin sold 17,500 shares of AppLovin stock. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00.

AppLovin Price Performance

APP traded down $6.03 during midday trading on Thursday, hitting $384.23. 5,132,294 shares of the company traded hands, compared to its average volume of 6,061,010. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $130.02 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The business has a 50 day simple moving average of $296.79 and a two-hundred day simple moving average of $327.05.

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

Wall Street Analyst Weigh In

Several brokerages have commented on APP. Bank of America boosted their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Wednesday. Citigroup reiterated a "buy" rating on shares of AppLovin in a research note on Thursday. Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group boosted their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $433.85.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin during the fourth quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the fourth quarter worth $25,000. Riverview Trust Co lifted its stake in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new position in shares of AppLovin during the 4th quarter worth $28,000. Finally, Hemington Wealth Management increased its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other 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.