Eduardo Vivas Sells 163,910 Shares of AppLovin (NASDAQ:APP) Stock

AppLovin Corporation (NASDAQ:APP) Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

AppLovin Price Performance

Shares of APP opened at $469.71 on Friday. The company has a market capitalization of $157.79 billion, a P/E ratio of 40.35, a price-to-earnings-growth ratio of 0.76 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. The firm has a 50 day moving average of $492.23 and a 200 day moving average of $517.80. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the business earned $1.67 EPS. The firm’s revenue for the quarter was up 58.9% on a year-over-year basis. As a group, equities research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. KeyCorp set a $775.00 target price on AppLovin in a research report on Wednesday, June 10th. Wells Fargo & Company upped their target price on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $669.62.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new stake in shares of AppLovin during the 1st quarter valued at about $25,000. Board of the Pension Protection Fund bought a new position in shares of AppLovin in the 4th quarter worth approximately $27,000. Washington Trust Advisors Inc. boosted its holdings in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new position in shares of AppLovin in the fourth quarter worth approximately $27,000. Finally, Laurel Wealth Advisors LLC bought a new stake in AppLovin during the fourth quarter valued at approximately $32,000. Institutional investors own 41.85% of the company’s stock.

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.