AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf Sells 21,101 Shares

AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf sold 21,101 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the sale, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AppLovin Stock Up 4.7 %

NASDAQ:APP opened at $333.31 on Monday. The business’s fifty day moving average price is $181.30 and its 200 day moving average price is $117.71. The firm has a market capitalization of $111.86 billion, a price-to-earnings ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $342.51.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. On average, sell-side analysts forecast that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently modified their holdings of APP. National Bank of Canada FI raised its holdings in shares of AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares in the last quarter. HM Payson & Co. raised its stake in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after buying an additional 104 shares during the last quarter. Finally, Ashton Thomas Securities LLC grew its stake in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of a number of research analyst reports. Stifel Nicolaus upped their target price on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Macquarie upped their price objective on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Oppenheimer upped their price target on shares of AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

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.