AppLovin (NASDAQ:APP) Insider Victoria Valenzuela Sells 16,599 Shares

AppLovin Corporation (NASDAQ:APP) insider Victoria Valenzuela sold 16,599 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $416.71, for a total transaction of $6,916,969.29. Following the sale, the insider owned 319,955 shares in the company, valued at approximately $133,328,448.05. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

AppLovin Price Performance

Shares of APP opened at $441.68 on Friday. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15. The firm’s fifty day simple moving average is $375.38 and its 200-day simple moving average is $345.14. The firm has a market capitalization of $149.40 billion, a price-to-earnings ratio of 62.74, a PEG ratio of 2.34 and a beta of 2.43. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business earned $0.89 EPS. The company’s revenue was up 77.1% on a year-over-year basis. Equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APP. Citigroup restated a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. Wall Street Zen lowered shares of AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a report on Friday, August 8th. Wells Fargo & Company raised their price objective on shares of AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Scotiabank raised their price objective on shares of AppLovin from $430.00 to $450.00 and gave the company a “sector outperform” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $472.86.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of APP. Revolve Wealth Partners LLC acquired a new position in AppLovin in the fourth quarter valued at $294,000. Stifel Financial Corp increased its stake in AppLovin by 2.3% in the fourth quarter. Stifel Financial Corp now owns 120,253 shares of the company’s stock valued at $38,941,000 after purchasing an additional 2,752 shares during the period. IHT Wealth Management LLC increased its stake in AppLovin by 4.0% in the fourth quarter. IHT Wealth Management LLC now owns 2,514 shares of the company’s stock valued at $814,000 after purchasing an additional 97 shares during the period. Hsbc Holdings PLC increased its stake in AppLovin by 93.0% in the fourth quarter. Hsbc Holdings PLC now owns 154,590 shares of the company’s stock valued at $50,082,000 after purchasing an additional 74,510 shares during the period. Finally, MGO One Seven LLC acquired a new position in AppLovin in the fourth quarter valued at $308,000. 41.85% of the stock is 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.