Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 1,500 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AppLovin Trading Up 6.6 %

Shares of APP opened at $112.58 on Friday. The business’s 50-day moving average price is $84.08 and its 200 day moving average price is $78.24. The stock has a market capitalization of $37.63 billion, a P/E ratio of 67.01, a P/E/G ratio of 1.41 and a beta of 1.88. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $112.88. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company posted $0.22 EPS. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. Analysts expect that AppLovin Co. will post 3.46 earnings per share for the current year.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of APP. Precision Wealth Strategies LLC acquired a new stake in AppLovin during the 4th quarter worth about $324,000. Charles Schwab Investment Management Inc. boosted its position in AppLovin by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,695 shares of the company’s stock worth $40,715,000 after acquiring an additional 31,773 shares during the period. Teacher Retirement System of Texas boosted its position in AppLovin by 15.9% during the 4th quarter. Teacher Retirement System of Texas now owns 62,527 shares of the company’s stock worth $2,492,000 after acquiring an additional 8,594 shares during the period. QRG Capital Management Inc. acquired a new stake in AppLovin during the 4th quarter worth about $290,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in AppLovin during the 4th quarter worth about $3,947,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the subject of a number of research reports. Benchmark increased their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 target price (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Bank of America raised their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Wedbush decreased their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.78.

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.