Insider Selling: AppLovin (NASDAQ:APP) Insider Sells 20,000 Shares of Stock

AppLovin Corporation (NASDAQ:APP) insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

AppLovin Price Performance

Shares of APP stock traded up $6.49 during trading on Monday, hitting $563.69. The company had a trading volume of 3,885,432 shares, compared to its average volume of 5,489,489. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market capitalization of $189.37 billion, a P/E ratio of 48.43, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45. The stock’s 50-day moving average price is $470.43 and its 200 day moving average price is $521.30. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. Equities analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on APP shares. Piper Sandler boosted their price target on AppLovin from $650.00 to $665.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Scotiabank upped their target price on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Finally, Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after buying an additional 166,117 shares in the last quarter. State Street Corp increased its holdings in shares of AppLovin by 0.4% during the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after buying an additional 52,377 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after buying an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock worth $4,103,386,000 after buying an additional 212,349 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of AppLovin by 10.7% during the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after buying an additional 538,806 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.