Herald Y. Chen Sells 200,000 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $372.65, for a total value of $74,530,000.00. Following the sale, the director now owns 221,209 shares in the company, valued at approximately $82,433,533.85. The trade was a 47.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40.

AppLovin Price Performance

Shares of NASDAQ APP opened at $362.34 on Friday. The stock’s 50-day moving average is $285.14 and its two-hundred day moving average is $317.47. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $123.18 billion, a price-to-earnings ratio of 79.81, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion during 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 company’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. Analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew 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 buying an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of AppLovin in the 4th quarter valued at about $1,781,922,000. Baillie Gifford & Co. boosted its stake 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 holdings in AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock valued at $716,133,000 after purchasing an additional 2,700,399 shares during the last quarter. Finally, Norges Bank acquired a new stake in AppLovin in the 4th quarter valued at about $828,138,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on APP. Benchmark reaffirmed a “buy” rating and set a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. HSBC set a $436.00 price target on shares of AppLovin and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Loop Capital restated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. JPMorgan Chase & Co. boosted their target price on AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, Citigroup upped their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $433.85.

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.