Victoria Valenzuela Sells 15,971 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, December 3rd, Victoria Valenzuela sold 17,925 shares of AppLovin stock. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75.

AppLovin Price Performance

APP opened at $341.83 on Wednesday. The stock’s 50-day moving average price is $268.71 and its 200 day moving average price is $155.82. AppLovin Co. has a 12-month low of $37.40 and a 12-month high of $417.64. The firm has a market cap of $114.72 billion, a price-to-earnings ratio of 103.59, a PEG ratio of 4.17 and a beta of 2.28. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current year.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its stake in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 shares during the period. Great Valley Advisor Group Inc. raised its holdings in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares in the last quarter. HM Payson & Co. lifted its stake in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after acquiring an additional 104 shares in the last quarter. Finally, Ashton Thomas Securities LLC increased its position 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 last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of a number of analyst reports. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Stifel Nicolaus upped their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Piper Sandler initiated coverage on AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup lifted their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.71.

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.