AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf Sells 21,101 Shares

AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf sold 21,101 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares of the company’s stock, valued at $70,970,487.12. This trade represents a 9.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

AppLovin Stock Performance

Shares of APP opened at $333.31 on Friday. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $342.51. 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 firm has a market cap of $111.86 billion, a price-to-earnings ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. The business’s 50 day moving average is $181.30 and its two-hundred day moving average is $117.13.

AppLovin (NASDAQ:APP) last issued its 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. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. Analysts forecast that AppLovin Co. will post 4.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on APP shares. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Stifel Nicolaus lifted their price objective on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Bank of America lifted their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, BTIG Research upped their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $222.96.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in AppLovin during the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the third quarter valued at approximately $29,000. Finally, Quest Partners LLC acquired a new position in shares of AppLovin during the second quarter valued at approximately $33,000. 41.85% of the stock is currently owned by institutional investors.

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.