AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen Sells 28,580 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 28,580 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $365.84, for a total transaction of $10,455,707.20. Following the completion of the sale, the director now directly owns 171,420 shares of the company’s stock, valued at $62,712,292.80. This represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Trading Down 2.6%

Shares of NASDAQ:APP opened at $366.61 on Friday. The company has a market capitalization of $124.63 billion, a PE ratio of 80.75, 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. The business has a 50 day moving average of $283.05 and a two-hundred day moving average of $316.16. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. As a group, analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on APP shares. The Goldman Sachs Group increased their target price on AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Benchmark reiterated a “buy” rating and set a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on AppLovin from $270.00 to $355.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. Finally, Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $433.85.

Hedge Funds Weigh In On AppLovin

Large investors have recently modified their holdings of the business. FMR LLC lifted its stake in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of AppLovin during the 4th quarter worth about $1,781,922,000. Baillie Gifford & Co. raised its position in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Dynasty Wealth Management LLC grew its stake in AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after buying an additional 2,700,399 shares during the last quarter. Finally, Norges Bank purchased a new position in AppLovin during the 4th quarter worth approximately $828,138,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

About AppLovin

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.