Maynard Webb, Jr. Sells 3,076 Shares of AppLovin (NASDAQ:APP) Stock

AppLovin Corporation (NASDAQ:APP) Director Maynard Webb, Jr. sold 3,076 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the sale, the director directly owned 123,520 shares in the company, valued at approximately $71,893,580.80. The trade was a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AppLovin Price Performance

NASDAQ:APP opened at $557.20 on Friday. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $187.19 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. The firm’s fifty day moving average is $470.43 and its two-hundred day moving average is $521.43.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company earned $1.67 earnings per share. The firm’s revenue was up 58.9% on a year-over-year basis. Research analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Wedbush restated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Wells Fargo & Company raised their target price on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, UBS Group dropped their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently modified their holdings of the business. Glenmede Trust Co. NA lifted its stake in AppLovin by 12.2% in the 1st quarter. Glenmede Trust Co. NA now owns 5,075 shares of the company’s stock valued at $2,020,000 after buying an additional 550 shares in the last quarter. Groupama Asset Managment purchased a new position in AppLovin in the 1st quarter valued at about $572,000. Verus Capital Partners LLC lifted its stake in AppLovin by 122.7% in the 1st quarter. Verus Capital Partners LLC now owns 686 shares of the company’s stock valued at $273,000 after buying an additional 378 shares in the last quarter. Liontrust Investment Partners LLP lifted its stake in AppLovin by 2.5% in the 1st quarter. Liontrust Investment Partners LLP now owns 20,272 shares of the company’s stock valued at $8,068,000 after buying an additional 485 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new position in AppLovin in the 1st quarter valued at about $194,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.