Insider Selling: AppLovin Co. (NASDAQ:APP) CFO Sells $7,019,669.67 in Stock

AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf sold 21,101 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the transaction, the chief financial officer now directly owns 213,336 shares in the company, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AppLovin Stock Up 4.7 %

Shares of AppLovin stock opened at $333.31 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $342.51. The business has a 50-day moving average of $181.30 and a 200-day moving average of $117.71. The company has a market capitalization of $111.86 billion, a PE ratio of 101.00, a P/E/G ratio of 3.92 and a beta of 1.86.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in AppLovin during the third quarter worth $27,000. DT Investment Partners LLC bought a new stake in AppLovin during the third quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin during the third quarter worth $29,000. Finally, HM Payson & Co. lifted its position in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price objective on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler initiated coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Finally, Oppenheimer lifted their price target on shares of AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.96.

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.