Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 99,000 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AppLovin Price Performance

NASDAQ:APP opened at $326.21 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock’s 50-day simple moving average is $242.30 and its 200 day simple moving average is $142.69. The company has a market cap of $109.47 billion, a P/E ratio of 98.85, a P/E/G ratio of 4.95 and a beta of 2.27. AppLovin Co. has a 52-week low of $36.33 and a 52-week high of $417.64.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, sell-side analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in AppLovin during the third quarter worth about $25,000. Meeder Asset Management Inc. bought a new position in AppLovin during the third quarter worth about $27,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the third quarter worth approximately $29,000. Finally, HM Payson & Co. boosted its holdings in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on APP shares. Benchmark restated a “sell” rating and issued a $66.00 price target on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus raised their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Macquarie raised their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, Loop Capital raised their price objective on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $292.79.

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.