AppLovin Co. (NASDAQ:APP) CTO Sells $4,228,875.00 in Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AppLovin Trading Up 5.8 %

Shares of APP stock traded up $14.83 on Wednesday, hitting $272.59. The company had a trading volume of 12,726,248 shares, compared to its average volume of 5,141,615. AppLovin Co. has a twelve month low of $59.92 and a twelve month high of $525.15. The stock's 50-day moving average is $360.57 and its two-hundred day moving average is $265.20. The firm has a market cap of $92.67 billion, a P/E ratio of 60.04, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently added to or reduced their stakes in APP. Capital Performance Advisors LLP purchased a new stake in AppLovin during the third quarter valued at about $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the fourth quarter worth $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the third quarter worth about $27,000. Finally, Riverview Trust Co lifted its stake in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Benchmark lifted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Macquarie increased their target price on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Finally, UBS Group lifted their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $438.28.

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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.

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