Herald Y. Chen Sells 400 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. The trade was a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

AppLovin Stock Performance

Shares of APP traded down $21.48 on Tuesday, reaching $321.06. The company’s stock had a trading volume of 9,008,933 shares, compared to its average volume of 4,577,098. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $417.64. The stock has a market capitalization of $107.75 billion, a P/E ratio of 100.91, a PEG ratio of 4.95 and a beta of 2.27. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s 50 day simple moving average is $230.54 and its two-hundred day simple moving average is $138.34.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. BTIG Research lifted their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Piper Sandler assumed coverage on shares of AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, Benchmark reaffirmed a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Institutional Trading of AppLovin

Several hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the third quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC bought a new stake in AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the third quarter valued at approximately $29,000. Finally, HM Payson & Co. lifted its holdings in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

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.