Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 2,987 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 2,987 shares of AppLovin stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $413.98, for a total transaction of $1,236,558.26. Following the completion of the sale, the director now directly owns 3,964 shares in the company, valued at $1,641,016.72. This represents a 42.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Dawson Alyssa Harvey also recently made the following trade(s):

• On Friday, June 6th, Dawson Alyssa Harvey sold 513 shares of AppLovin stock. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90.
• On Tuesday, May 13th, Dawson Alyssa Harvey sold 570 shares of AppLovin stock. The shares were sold at an average price of $371.12, for a total transaction of $211,538.40.

AppLovin Trading Up 0.9%

Shares of APP stock opened at $417.89 on Friday. The company’s 50-day moving average price is $311.16 and its 200-day moving average price is $332.34. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $141.41 billion, a price-to-earnings ratio of 92.05, a PEG ratio of 3.02 and a beta of 2.53. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. The firm 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. As a group, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Arete Research set a $200.00 target price on shares of AppLovin in a research note on Wednesday, March 5th. Jefferies Financial Group lifted their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. The Goldman Sachs Group lifted their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, FBN Securities assumed coverage on shares of AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.10.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of APP. First Hawaiian Bank acquired a new stake in shares of AppLovin during the first quarter worth about $1,017,000. Inspire Investing LLC acquired a new stake in shares of AppLovin during the first quarter worth about $2,120,000. Strs Ohio acquired a new stake in shares of AppLovin during the first quarter worth about $86,173,000. Advisors Capital Management LLC acquired a new stake in shares of AppLovin during the first quarter worth about $3,373,000. Finally, McAdam LLC lifted its position in shares of AppLovin by 54.6% during the first quarter. McAdam LLC now owns 1,940 shares of the company’s stock worth $514,000 after purchasing an additional 685 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.