AppLovin Co. (NASDAQ:APP) Insider Sells $5,000,040.97 in Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Victoria Valenzuela also recently made the following trade(s):

• On Tuesday, December 3rd, Victoria Valenzuela sold 17,925 shares of AppLovin stock. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75.

AppLovin Price Performance

Shares of AppLovin stock traded up $3.83 on Monday, hitting $344.82. The company’s stock had a trading volume of 2,479,345 shares, compared to its average volume of 4,630,750. The company has a market capitalization of $115.72 billion, a P/E ratio of 104.49, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. AppLovin Co. has a 52-week low of $37.40 and a 52-week high of $417.64. The firm has a fifty day moving average price of $264.72 and a 200-day moving average price of $153.98. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (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 company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently bought and sold shares of APP. FMR LLC boosted its stake in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC acquired a new stake in AppLovin during the second quarter worth approximately $290,655,000. 1832 Asset Management L.P. grew its stake in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares during the period. WCM Investment Management LLC raised its holdings in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Bank of America increased their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Citigroup increased their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Macquarie boosted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.71.

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.