Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 1,500 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

AppLovin Stock Performance

APP traded up $8.04 during trading hours on Thursday, hitting $105.61. The stock had a trading volume of 9,792,873 shares, compared to its average volume of 4,094,603. AppLovin Co. has a 1 year low of $34.45 and a 1 year high of $106.45. The company’s fifty day simple moving average is $83.19 and its 200 day simple moving average is $77.55. The stock has a market cap of $34.75 billion, a PE ratio of 61.09, a price-to-earnings-growth ratio of 1.22 and a beta of 1.88. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. Equities analysts anticipate that AppLovin Co. will post 3.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of APP. WCM Investment Management LLC bought a new position in shares of AppLovin during the 1st quarter valued at $497,488,000. Fred Alger Management LLC purchased a new stake in AppLovin during the second quarter valued at about $290,655,000. Whale Rock Capital Management LLC bought a new position in shares of AppLovin during the first quarter valued at about $195,129,000. Jericho Capital Asset Management L.P. grew its stake in shares of AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after buying an additional 1,357,400 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on APP. Jefferies Financial Group raised their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday. Benchmark raised their price target on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. Wedbush cut their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Finally, Bank of America boosted their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.94.

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.