Katie Kihorany Jansen Sells 59,876 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

AppLovin Stock Up 2.3 %

Shares of AppLovin stock opened at $291.09 on Friday. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $302.55. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $97.30 billion, a P/E ratio of 88.21, a price-to-earnings-growth ratio of 3.49 and a beta of 1.86. The business has a 50-day moving average of $159.14 and a two-hundred day moving average of $108.57.

AppLovin (NASDAQ:APP) last announced 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. The firm 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%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. As a group, equities analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Hedge Funds Weigh In On AppLovin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the third quarter valued at about $25,000. DT Investment Partners LLC bought a new stake in AppLovin in the 3rd quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin in the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC bought a new position in shares of AppLovin during the 2nd quarter worth approximately $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Benchmark reaffirmed a “sell” rating and set a $66.00 price objective on shares of AppLovin in a report on Thursday, November 7th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Citigroup lifted their price objective on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Oppenheimer upped their target price 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. Finally, Macquarie lifted their price target on shares of AppLovin from $150.00 to $270.00 and gave the stock 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 assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.31.

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.