AppLovin Co. (NASDAQ:APP) Insider Sells $1,274,656.68 in Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Victoria Valenzuela also recently made the following trade(s):

• On Monday, July 1st, Victoria Valenzuela sold 47,001 shares of AppLovin stock. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06.
• On Thursday, June 13th, Victoria Valenzuela sold 11,276 shares of AppLovin stock. The shares were sold at an average price of $75.71, for a total transaction of $853,705.96.

AppLovin Trading Up 1.3 %

Shares of APP stock opened at $90.20 on Friday. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $92.50. The firm has a 50 day moving average price of $81.06 and a two-hundred day moving average price of $74.01. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The company has a market capitalization of $29.68 billion, a PE ratio of 53.69, a price-to-earnings-growth ratio of 1.27 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The business 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 51.55% and a net margin of 16.46%. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. As a group, analysts predict that AppLovin Co. will post 2.96 earnings per share for the current year.

Hedge Funds Weigh In On AppLovin

A number of hedge funds have recently bought and sold shares of APP. WCM Investment Management LLC bought a new position in AppLovin during the 1st quarter worth $497,488,000. Lone Pine Capital LLC increased its holdings in AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after buying an additional 382,767 shares during the period. Sapient Capital LLC acquired a new position in shares of AppLovin in the 4th quarter valued at approximately $165,057,000. Jericho Capital Asset Management L.P. lifted its stake in AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after purchasing an additional 2,525,240 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of AppLovin in the 2nd quarter valued at $290,655,000. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APP. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. BTIG Research raised their price target on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Benchmark upped their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday. Citigroup raised their target price on shares of AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Wedbush dropped their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.86.

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.