AppLovin Co. (NASDAQ:APP) Director Sells $10,029,221.10 in Stock

AppLovin Co. (NASDAQ:APP) Director Eduardo Vivas sold 30,330 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the completion of the sale, the director now directly owns 90,576 shares of the company’s stock, valued at approximately $29,950,765.92. The trade was a 25.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

AppLovin Stock Performance

Shares of APP opened at $336.75 on Friday. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $344.77. The stock has a fifty day moving average price of $197.69 and a 200-day moving average price of $123.96. 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 firm has a market cap of $113.01 billion, a PE ratio of 102.05, a P/E/G ratio of 4.05 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 earnings per share. Equities research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark reaffirmed a “sell” rating and issued a $66.00 price target on shares of AppLovin in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $265.57.

Institutional Trading of AppLovin

Several large investors have recently added to or reduced their stakes in APP. Price T Rowe Associates Inc. MD boosted its holdings in shares of AppLovin by 122.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 536,937 shares of the company’s stock valued at $37,168,000 after acquiring an additional 295,251 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of AppLovin during the 1st quarter valued at about $474,000. California State Teachers Retirement System raised its stake in shares of AppLovin by 47.7% during the 1st quarter. California State Teachers Retirement System now owns 241,197 shares of the company’s stock valued at $16,696,000 after buying an additional 77,914 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of AppLovin in the 1st quarter valued at about $236,000. Finally, Comerica Bank boosted its stake in shares of AppLovin by 2.7% in the first quarter. Comerica Bank now owns 175,883 shares of the company’s stock worth $12,175,000 after buying an additional 4,690 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.