AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey Sells 570 Shares

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 570 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $371.12, for a total transaction of $211,538.40. Following the completion of the transaction, the director now directly owns 6,231 shares in the company, valued at $2,312,448.72. This trade represents a 8.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

AppLovin Trading Down 1.2%

NASDAQ APP opened at $362.34 on Friday. The company’s 50-day moving average price is $285.14 and its 200-day moving average price is $318.48. 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 $123.18 billion, a PE ratio of 79.81, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP) last posted 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. Equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Piper Sandler upped their price target on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their price target on shares of AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Finally, Loop Capital reaffirmed a “buy” rating and set a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $433.85.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Fred Alger Management LLC grew its holdings in shares of AppLovin by 12.0% in the first 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 during the last quarter. Scientech Research LLC grew its holdings in AppLovin by 1,300.3% during the 1st quarter. Scientech Research LLC now owns 8,822 shares of the company’s stock worth $2,338,000 after acquiring an additional 8,192 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in AppLovin by 14.3% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 63,608 shares of the company’s stock valued at $16,854,000 after purchasing an additional 7,945 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in AppLovin by 78.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 327,800 shares of the company’s stock valued at $86,878,000 after purchasing an additional 144,130 shares during the period. Finally, Insight Holdings Group LLC increased its position in AppLovin by 178.0% during the 1st quarter. Insight Holdings Group LLC now owns 13,900 shares of the company’s stock valued at $3,683,000 after purchasing an additional 8,900 shares during the period. 41.85% of the stock is currently owned by 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.