AppLovin Co. (NASDAQ:APP) Director Sells $41,991,000.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 100,000 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the completion of the sale, the director now directly owns 181,929 shares of the company’s stock, valued at $76,393,806.39. This represents a 35.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Herald Y. Chen also recently made the following trade(s):

• On Tuesday, May 13th, Herald Y. Chen sold 171,420 shares of AppLovin stock. The stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40.

AppLovin Stock Performance

NASDAQ APP opened at $417.89 on Monday. The company’s 50 day moving average is $311.16 and its 200-day moving average is $332.43. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $141.41 billion, a P/E ratio of 92.05, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. Sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on APP shares. Loop Capital reissued a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Citigroup restated a “buy” rating on shares of AppLovin in a research report on Thursday, May 29th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Wednesday, May 28th. Benchmark reiterated a “buy” rating and set a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. Finally, Jefferies Financial Group increased their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $436.10.

Hedge Funds Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently bought and sold shares of APP. JFS Wealth Advisors LLC boosted its stake in shares of AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after purchasing an additional 31 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after buying an additional 33 shares during the period. Forum Financial Management LP grew its position in shares of AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after buying an additional 33 shares during the period. Finally, Vestcor Inc grew its position in shares of AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock worth $1,088,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors 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.