Dawson Alyssa Harvey Sells 150 Shares of AppLovin (NASDAQ:APP) Stock

AppLovin Corporation (NASDAQ:APP) Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director directly owned 2,829 shares in the company, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Dawson Alyssa Harvey also recently made the following trade(s):

• On Wednesday, November 12th, Dawson Alyssa Harvey sold 200 shares of AppLovin stock. The stock was sold at an average price of $589.18, for a total transaction of $117,836.00.

AppLovin Trading Down 2.9%

Shares of APP traded down $21.34 during trading hours on Wednesday, reaching $703.28. 3,569,853 shares of the company traded hands, compared to its average volume of 6,902,814. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The company’s fifty day moving average price is $608.56 and its two-hundred day moving average price is $495.73. The company has a market capitalization of $237.67 billion, a price-to-earnings ratio of 85.35, a price-to-earnings-growth ratio of 3.70 and a beta of 2.51.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. AppLovin’s revenue was up 68.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. Equities research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Institutional Trading of AppLovin

A number of large investors have recently made changes to their positions in the stock. Mainstay Capital Management LLC ADV bought a new position in shares of AppLovin in the third quarter worth about $339,000. Strategic Investment Solutions Inc. IL bought a new position in shares of AppLovin during the 3rd quarter valued at approximately $203,000. Severin Investments LLC increased its holdings in AppLovin by 40.9% in the 3rd quarter. Severin Investments LLC now owns 1,720 shares of the company’s stock worth $1,236,000 after acquiring an additional 499 shares in the last quarter. Allworth Financial LP raised its stake in AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock worth $4,347,000 after acquiring an additional 3,438 shares during the period. Finally, Syverson Strege & Co purchased a new position in AppLovin during the third quarter valued at approximately $259,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APP has been the subject of a number of research reports. Phillip Securities upgraded AppLovin to a “moderate buy” rating in a report on Monday, September 29th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Benchmark lifted their price target on shares of AppLovin from $640.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $633.00 to $721.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of AppLovin in a report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $679.85.

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.