Herald Y. Chen Sells 28,580 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 28,580 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $365.84, for a total transaction of $10,455,707.20. Following the sale, the director now directly owns 171,420 shares in the company, valued at approximately $62,712,292.80. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Herald Y. Chen also recently made the following trade(s):

• On Tuesday, May 13th, Herald Y. Chen sold 171,420 shares of AppLovin stock. The stock was sold at an average price of $373.77, for a total value of $64,071,653.40.

AppLovin Stock Down 1.2%

Shares of AppLovin stock opened at $362.34 on Friday. 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 company has a market cap of $123.18 billion, a P/E ratio of 79.81, a PEG ratio of 3.02 and a beta of 2.39. The firm’s 50 day moving average price is $285.14 and its 200-day moving average price is $317.47. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. On average, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently modified their holdings of APP. Fred Alger Management LLC boosted its position in AppLovin by 12.0% in the 1st quarter. Fred Alger Management LLC now owns 2,833,792 shares of the company’s stock worth $750,870,000 after purchasing an additional 303,063 shares in the last quarter. Scientech Research LLC grew its position in AppLovin by 1,300.3% during the first quarter. Scientech Research LLC now owns 8,822 shares of the company’s stock valued at $2,338,000 after buying an additional 8,192 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in AppLovin by 14.3% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 63,608 shares of the company’s stock valued at $16,854,000 after buying an additional 7,945 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AppLovin by 78.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 327,800 shares of the company’s stock worth $86,878,000 after acquiring an additional 144,130 shares during the period. Finally, Insight Holdings Group LLC boosted its stake in shares of AppLovin by 178.0% during the 1st quarter. Insight Holdings Group LLC now owns 13,900 shares of the company’s stock worth $3,683,000 after acquiring an additional 8,900 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on APP. Citigroup upped their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company lifted their price target on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. FBN Securities began coverage on AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, HSBC set a $436.00 target price on shares of AppLovin and gave the company a “buy” rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $433.85.

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.