AppLovin Co. (NASDAQ:APP) Director Sells $1,236,558.26 in Stock

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 2,987 shares of AppLovin stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $413.98, for a total value of $1,236,558.26. Following the completion of the sale, the director now directly owns 3,964 shares of the company’s stock, valued at $1,641,016.72. The trade was a 42.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Dawson Alyssa Harvey also recently made the following trade(s):

• On Friday, June 6th, Dawson Alyssa Harvey sold 513 shares of AppLovin stock. The shares were sold at an average price of $420.30, for a total value of $215,613.90.
• On Tuesday, May 13th, Dawson Alyssa Harvey sold 570 shares of AppLovin stock. The shares were sold at an average price of $371.12, for a total value of $211,538.40.

AppLovin Stock Up 0.9%

AppLovin stock opened at $417.89 on Monday. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The business has a fifty day moving average of $311.16 and a two-hundred day moving average of $332.43. 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 P/E/G 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. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business posted $0.67 EPS. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Hawaiian Bank purchased a new position in AppLovin in the 1st quarter worth $1,017,000. Inspire Investing LLC acquired a new stake in shares of AppLovin during the 1st quarter valued at about $2,120,000. Strs Ohio purchased a new position in AppLovin in the 1st quarter valued at about $86,173,000. Advisors Capital Management LLC purchased a new position in AppLovin in the 1st quarter valued at about $3,373,000. Finally, McAdam LLC lifted its stake in AppLovin by 54.6% in the 1st quarter. McAdam LLC now owns 1,940 shares of the company’s stock valued at $514,000 after buying an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Benchmark reissued a “buy” rating and set a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. HSBC set a $436.00 price objective on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research note on Thursday, May 29th. Finally, Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $436.10.

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.