Victoria Valenzuela Sells 20,000 Shares of AppLovin (NASDAQ:APP) Stock

AppLovin Corporation (NASDAQ:APP) insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

AppLovin Price Performance

Shares of AppLovin stock opened at $520.84 on Wednesday. The stock’s 50-day simple moving average is $476.67 and its 200-day simple moving average is $521.50. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The company has a market capitalization of $174.97 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 0.92 and a beta of 2.45. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

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

Institutional Investors Weigh In On AppLovin

Several large investors have recently made changes to their positions in APP. Rathbones Group PLC increased its stake in AppLovin by 69.6% during the first quarter. Rathbones Group PLC now owns 702 shares of the company’s stock worth $279,000 after acquiring an additional 288 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in AppLovin by 4.4% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 12,388 shares of the company’s stock worth $4,930,000 after acquiring an additional 527 shares during the last quarter. Glenmede Trust Co. NA increased its stake in AppLovin by 12.2% during the first quarter. Glenmede Trust Co. NA now owns 5,075 shares of the company’s stock worth $2,020,000 after acquiring an additional 550 shares during the last quarter. Groupama Asset Managment bought a new stake in AppLovin during the first quarter worth approximately $572,000. Finally, Verus Capital Partners LLC increased its stake in AppLovin by 122.7% during the first quarter. Verus Capital Partners LLC now owns 686 shares of the company’s stock worth $273,000 after acquiring an additional 378 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent analyst reports. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research note on Tuesday. BTIG Research reissued a “buy” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, Citigroup reissued a “buy” rating and set a $710.00 target price on shares of AppLovin in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $664.35.

About AppLovin

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.