AppLovin (NASDAQ:APP) Shares Gap Down Following Insider Selling

AppLovin Co. (NASDAQ:APP)’s stock price gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $417.89, but opened at $401.25. AppLovin shares last traded at $393.70, with a volume of 1,652,677 shares changing hands.

Specifically, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the transaction, the director now directly owns 3,451 shares of the company’s stock, valued at $1,450,455.30. This represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 2,987 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $413.98, for a total transaction of $1,236,558.26. Following the sale, the director now owns 3,964 shares in the company, valued at $1,641,016.72. The trade was a 42.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Herald Y. Chen sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $419.91, for a total value of $41,991,000.00. Following the sale, the director now directly owns 181,929 shares in the company, valued at approximately $76,393,806.39. This trade represents a 35.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. FBN Securities initiated coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an “outperform” rating and a $385.00 price objective for the company. Benchmark restated a “buy” rating and set a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. Citigroup restated a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company boosted their price target on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.10.

AppLovin Stock Up 0.0%

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $129.81 billion, a price-to-earnings ratio of 84.50, a PEG ratio of 3.02 and a beta of 2.53. The business has a 50-day simple moving average of $315.46 and a two-hundred day simple moving average of $333.14.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin’s revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, equities analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AppLovin

Institutional investors and hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin in the fourth quarter worth $25,000. Atala Financial Inc bought a new position in AppLovin in the first quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new stake in AppLovin in the 1st quarter worth $27,000. Riverview Trust Co grew its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new position in shares of AppLovin in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds 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.