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

AppLovin Co. (NASDAQ:APPGet Free Report) Director Herald Y. Chen sold 100,000 shares of the firm’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 sale, the director now directly owns 181,929 shares in the company, valued at approximately $76,393,806.39. The trade was a 35.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 Up 0.9%

NASDAQ:APP opened at $417.89 on Monday. The firm has a market cap of $141.41 billion, a PE ratio of 92.05, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a 50-day moving average of $311.16 and a 200 day moving average of $332.43. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APPGet Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

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

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. Wells Fargo & Company lifted their price objective on shares of AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Bank of America boosted their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group lifted their price objective 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.10.

Read Our Latest Stock Analysis on AppLovin

About AppLovin

(Get Free Report)

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.

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