AppLovin Co. (NASDAQ:APP) Director Sells $10,360,545.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Mary Margaret Hasti Georgiadis sold 30,500 shares of AppLovin stock in a transaction on Friday, November 29th. The stock was sold at an average price of $339.69, for a total value of $10,360,545.00. Following the completion of the sale, the director now directly owns 154,500 shares of the company’s stock, valued at approximately $52,482,105. The trade was a 16.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

AppLovin Trading Up 1.4 %

Shares of APP opened at $379.07 on Friday. The firm has a market cap of $127.21 billion, a P/E ratio of 114.87, a price-to-earnings-growth ratio of 4.52 and a beta of 2.28. 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 1 year low of $35.79 and a 1 year high of $397.47. The company has a 50 day simple moving average of $215.80 and a two-hundred day simple moving average of $131.81.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. On average, equities analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on APP shares. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $103.00 to $150.00 in a report on Monday, October 14th. Benchmark restated a “sell” rating and set a $66.00 price target on shares of AppLovin in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Piper Sandler started coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.84.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APP. Capital Performance Advisors LLP purchased a new stake in AppLovin in the 3rd quarter worth about $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin during the third quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the third quarter valued at $29,000. Finally, Quest Partners LLC bought a new position in AppLovin in the 2nd quarter worth about $33,000. Institutional investors own 41.85% of the company’s stock.

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.