Victoria Valenzuela Sells 15,000 Shares of AppLovin (NASDAQ:APP) Stock

Key Points

• Victoria Valenzuela, an insider at AppLovin, sold 15,000 shares for a total of $6,750,000, reducing her ownership stake by 4.69%.
• AppLovin's stock is currently valued at approximately $462.94 after a trading drop, with a PE ratio of 65.76 and a market capitalization of $156.59 billion.
• Analysts have shown bullish sentiment, with one firm raising its target price from $470 to $500 and a majority rating the stock as a Moderate Buy.

AppLovin Corporation (NASDAQ:APP - Get Free Report) insider Victoria Valenzuela sold 15,000 shares of AppLovin stock in a transaction on Monday, August 25th. The stock was sold at an average price of $450.00, for a total transaction of $6,750,000.00. Following the sale, the insider directly owned 304,955 shares of the company's stock, valued at approximately $137,229,750. This trade represents a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 transaction of $6,916,969.29.

AppLovin Stock Performance

APP traded down $6.39 on Wednesday, reaching $462.94. The company had a trading volume of 2,962,349 shares, compared to its average volume of 7,045,223. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The stock has a market capitalization of $156.59 billion, a PE ratio of 65.76, a P/E/G ratio of 2.52 and a beta of 2.43. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The stock has a 50-day moving average price of $379.16 and a 200-day moving average price of $346.11.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC acquired a new position in AppLovin during the fourth quarter worth about $294,000. MGO One Seven LLC acquired a new position in AppLovin during the fourth quarter worth about $308,000. Integrated Wealth Concepts LLC acquired a new position in AppLovin during the fourth quarter worth about $347,000. Berger Financial Group Inc acquired a new position in AppLovin during the fourth quarter worth about $280,000. Finally, Public Employees Retirement Association of Colorado grew its position in AppLovin by 18.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 20,923 shares of the company's stock worth $6,775,000 after buying an additional 3,309 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler upped their target price on shares of AppLovin from $470.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Wedbush reaffirmed an "outperform" rating and issued a $620.00 target price on shares of AppLovin in a report on Thursday, August 7th. BTIG Research upped their target price on shares of AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their target price on shares of AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $472.86.

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.