Vasily Shikin Sells 593,588 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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.
• On Friday, September 6th, Vasily Shikin sold 154,500 shares of AppLovin stock. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00.

AppLovin Stock Performance

Shares of APP opened at $333.31 on Friday. 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 12-month low of $35.79 and a 12-month high of $342.51. The business’s fifty day moving average price is $181.30 and its 200 day moving average price is $117.41. The stock has a market capitalization of $111.86 billion, a PE ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. Equities research analysts forecast that AppLovin Co. will post 4.05 EPS for the current year.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its holdings in shares of AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares during the last quarter. Covestor Ltd increased its position in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after buying an additional 236 shares during the period. UniSuper Management Pty Ltd bought a new stake in AppLovin in the first quarter valued at $180,000. Bessemer Group Inc. boosted its holdings in shares of AppLovin by 131,600.0% during the first quarter. Bessemer Group Inc. now owns 6,585 shares of the company’s stock valued at $456,000 after acquiring an additional 6,580 shares during the period. Finally, Shell Asset Management Co. grew its position in shares of AppLovin by 68.8% during the first quarter. Shell Asset Management Co. now owns 6,301 shares of the company’s stock worth $436,000 after acquiring an additional 2,569 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on APP. Loop Capital upped their target price on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. BTIG Research lifted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

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.