Herald Y. Chen Sells 400,000 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 400,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the sale, the director now directly owns 221,209 shares of the company’s stock, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 shares were sold at an average price of $373.77, for a total transaction of $64,071,653.40.

AppLovin Stock Down 1.2%

NASDAQ:APP opened at $362.34 on Friday. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. 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 cap of $123.18 billion, a PE ratio of 79.81, a P/E/G ratio of 3.02 and a beta of 2.39. The firm’s 50 day simple moving average is $285.14 and its 200 day simple moving average is $317.47.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates 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 business earned $0.67 earnings per share. On average, research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. Loop Capital reaffirmed a “buy” rating and set a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Benchmark reaffirmed a “buy” rating and set a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $433.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after acquiring an additional 1,213,536 shares during the last quarter. FMR LLC boosted its stake in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after buying an additional 1,769,400 shares during the period. SVB Wealth LLC bought a new position in AppLovin during the fourth quarter worth $1,781,922,000. Finally, Baillie Gifford & Co. lifted its holdings in AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

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.