AppLovin Co. (NASDAQ:APP) Director Sells $32,620,500.00 in Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) Director Herald Y. Chen sold 99,000 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the transaction, the director now owns 621,209 shares of the company's stock, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

AppLovin Stock Down 3.5 %

NASDAQ:APP traded down $12.00 on Thursday, hitting $326.21. 4,047,320 shares of the company's stock were exchanged, compared to its average volume of 4,585,300. The firm has a 50-day moving average price of $242.30 and a 200-day moving average price of $142.69. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 52 week low of $36.33 and a 52 week high of $417.64. The company has a market cap of $109.47 billion, a P/E ratio of 98.85, a price-to-earnings-growth ratio of 4.95 and a beta of 2.27.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the firm posted $0.30 EPS. The company's revenue for the quarter was up 38.6% on a year-over-year basis. As a group, analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter valued at about $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at about $29,000. Finally, Quest Partners LLC acquired a new position in AppLovin in the 2nd quarter valued at about $33,000. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APP has been the subject of a number of analyst reports. Benchmark reaffirmed a "sell" rating and set a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus boosted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Citigroup boosted their price target on shares of AppLovin from $335.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Oppenheimer reissued an "outperform" rating and issued a $480.00 price target on shares of AppLovin in a report on Tuesday. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $292.79.

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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