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

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, 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 can be accessed through this link.

AppLovin Price Performance

Shares of NASDAQ APP opened at $324.47 on Friday. AppLovin Co. has a 52 week low of $37.40 and a 52 week high of $417.64. 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 $108.89 billion, a P/E ratio of 98.32, a P/E/G ratio of 4.17 and a beta of 2.28. The business’s 50 day moving average price is $246.00 and its 200 day moving average price is $144.80.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating 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 business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current year.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APP. WCM Investment Management LLC boosted its stake in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. FMR LLC lifted its holdings in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Lone Pine Capital LLC boosted its position in AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after purchasing an additional 382,767 shares in the last quarter. State Street Corp grew its stake in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after purchasing an additional 449,241 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. BTIG Research raised their price objective on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup boosted their target price on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.