AppLovin Co. (NASDAQ:APP) CEO Sells 1,676 Shares

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

AppLovin Stock Performance

NASDAQ:APP traded up $17.15 during trading hours on Wednesday, hitting $338.21. 7,048,547 shares of the company traded hands, compared to its average volume of 4,587,456. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $113.50 billion, a price-to-earnings ratio of 97.29, a P/E/G ratio of 4.95 and a beta of 2.27. The firm has a 50-day moving average of $234.35 and a 200 day moving average of $140.02. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $417.64.

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

Analysts Set New Price Targets

APP has been the subject of several recent research reports. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Macquarie upped their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and raised their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. Loop Capital upped their price target on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Bank of America increased their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. One equities research 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 company. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Institutional Trading of AppLovin

Hedge funds have recently modified their holdings of the company. National Bank of Canada FI increased its position in shares of AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares during the period. Great Valley Advisor Group Inc. boosted its stake in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares in the last quarter. HM Payson & Co. boosted its position in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after acquiring an additional 104 shares during the period. Finally, Ashton Thomas Securities LLC grew its stake in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares during the period. Institutional investors 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.