AppLovin Co. (NASDAQ:APP) Director Sells $64,930,000.00 in Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

AppLovin Price Performance

APP stock traded down $10.11 on Tuesday, reaching $327.23. 9,211,323 shares of the company’s stock were exchanged, compared to its average volume of 4,919,307. AppLovin Co. has a twelve month low of $59.30 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a fifty day moving average of $367.64 and a 200-day moving average of $257.15. The firm has a market cap of $109.82 billion, a PE ratio of 72.08, a P/E/G ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of several research analyst reports. BTIG Research increased their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $452.29.

Institutional Investors Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently modified their holdings of APP. FMR LLC increased its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. WCM Investment Management LLC grew its holdings in AppLovin by 10.5% in 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 purchasing an additional 1,029,009 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of AppLovin in the fourth quarter valued at $1,781,922,000. State Street Corp raised its stake in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of AppLovin by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after buying an additional 573,310 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.