Insider Selling: AppLovin Co. (NASDAQ:APP) CFO Sells $4,109,022.00 in Stock

AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf sold 9,714 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the completion of the transaction, the chief financial officer now directly owns 192,421 shares in the company, valued at approximately $81,394,083. The trade was a 4.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

AppLovin Stock Performance

NASDAQ:APP opened at $417.89 on Monday. The company’s 50-day moving average price is $311.16 and its 200-day moving average price is $332.43. 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 company has a market cap of $141.41 billion, a P/E ratio of 92.05, a P/E/G ratio of 3.02 and a beta of 2.53. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on APP. Oppenheimer restated an “outperform” rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. 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 report on Thursday, May 8th. UBS Group increased their price target on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Wells Fargo & Company raised their target price on shares of AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $525.00 target price on shares of AppLovin 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.10.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GHP Investment Advisors Inc. purchased a new position in AppLovin in the fourth quarter worth approximately $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $25,000. Atala Financial Inc acquired a new position in shares of AppLovin in the 1st quarter valued at $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin in the 1st quarter valued at $27,000. Finally, Riverview Trust Co increased its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds 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.