AppLovin Co. (NASDAQ:APP) Director Sells $5,740,920.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the sale, the director now owns 2,987 shares of the company’s stock, valued at $952,673.78. This represents a 85.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

AppLovin Trading Up 4.7 %

AppLovin stock opened at $333.31 on Monday. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $342.51. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s fifty day simple moving average is $181.30 and its two-hundred day simple moving average is $117.71. The company has a market capitalization of $111.86 billion, a price-to-earnings ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. As a group, equities analysts predict that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APP shares. BTIG Research boosted their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group upped their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Finally, Benchmark reaffirmed a “sell” rating and set a $66.00 target price on shares of AppLovin in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in APP. Second Half Financial Partners LLC purchased a new stake in AppLovin during the 3rd quarter valued at $224,000. Eagle Asset Management Inc. lifted its holdings in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in AppLovin by 10.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock worth $3,440,000 after buying an additional 2,385 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after buying an additional 15,590 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

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.