Herald Y. Chen Sells 200,000 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AppLovin Trading Down 3.0 %

AppLovin stock opened at $327.23 on Wednesday. The company has a 50 day moving average price of $367.35 and a 200 day moving average price of $258.85. AppLovin Co. has a 52 week low of $59.30 and a 52 week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market capitalization of $109.82 billion, a price-to-earnings ratio of 72.08, a P/E/G ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Oppenheimer reiterated an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $452.29.

Institutional Investors Weigh In On AppLovin

Institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin during the 4th quarter valued at $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the 4th quarter valued at $25,000. Riverview Trust Co boosted its stake in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management boosted its stake in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

About AppLovin

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.