AppLovin Co. (NASDAQ:APP) Director Sells $5,740,920.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the sale, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This represents a 85.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AppLovin Price Performance

Shares of NASDAQ APP opened at $333.31 on Monday. 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 fifty day simple moving average of $181.30 and a two-hundred day simple moving average of $117.71. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $342.51. The firm has a market cap of $111.86 billion, a price-to-earnings 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 for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. Analysts anticipate that AppLovin Co. will post 4.05 earnings per share for the current year.

Institutional Trading of AppLovin

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in AppLovin in the 3rd quarter worth about $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the third quarter worth about $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the third quarter valued at approximately $29,000. Finally, Quest Partners LLC bought a new stake in AppLovin during the 2nd quarter worth approximately $33,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of recent research reports. BTIG Research boosted their price target 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. Bank of America upped their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Citigroup lifted their target price on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price 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.