AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin Sells 593,588 Shares

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vasily Shikin also recently made the following trade(s):

• On Monday, September 9th, Vasily Shikin sold 5,500 shares of AppLovin stock. The shares were sold at an average price of $86.04, for a total value of $473,220.00.
• On Friday, September 6th, Vasily Shikin sold 154,500 shares of AppLovin stock. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00.

AppLovin Stock Up 4.7 %

Shares of NASDAQ:APP opened at $333.31 on Friday. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $342.51. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market cap of $111.86 billion, a PE ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86. The firm has a 50 day simple moving average of $181.30 and a 200 day simple moving average of $117.41.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the firm posted $0.30 earnings per share. AppLovin’s revenue was up 38.6% compared to the same quarter last year. As a group, research analysts expect that AppLovin Co. will post 4.05 earnings per share for the current year.

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the third quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the 3rd quarter worth about $27,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter valued at about $29,000. Finally, HM Payson & Co. grew its stake in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on APP. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Oppenheimer boosted their target price on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their target price on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.96.

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.