AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin Sells 154,500 Shares

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Vasily Shikin also recently made the following trade(s):

• On Monday, September 9th, Vasily Shikin sold 5,500 shares of AppLovin stock. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00.

AppLovin Stock Performance

Shares of APP opened at $97.57 on Thursday. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $98.10. The stock has a market cap of $32.10 billion, a P/E ratio of 58.08, a PEG ratio of 1.22 and a beta of 1.88. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a 50-day moving average of $83.19 and a two-hundred day moving average of $77.55.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. As a group, research analysts predict that AppLovin Co. will post 3.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush lowered their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and set a $105.00 target price (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Benchmark lifted their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, Bank of America increased their price objective on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.94.

Institutional Trading of AppLovin

Large investors have recently made changes to their positions in the stock. Quest Partners LLC acquired a new position in AppLovin in the 2nd quarter valued at $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin in the second quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin during the second quarter worth approximately $37,000. Summit Securities Group LLC purchased a new position in shares of AppLovin in the 2nd quarter worth $42,000. Finally, Covestor Ltd raised its holdings in shares of AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 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.