AppLovin (NASDAQ:APP) Insider Sells $11,317,800.00 in Stock

AppLovin Corporation (NASDAQ:APP) insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

AppLovin Stock Down 5.3%

Shares of NASDAQ:APP opened at $492.98 on Thursday. The company has a market cap of $165.61 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 0.85 and a beta of 2.45. The firm’s 50-day simple moving average is $479.09 and its 200-day simple moving average is $521.31. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61.

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

Institutional Trading of AppLovin

A number of institutional investors have recently added to or reduced their stakes in APP. Cassaday & Co Wealth Management LLC purchased a new stake in AppLovin during the first quarter worth about $25,000. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin in the fourth quarter valued at about $27,000. Washington Trust Advisors Inc. lifted its holdings in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at about $27,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of AppLovin in a report on Thursday, May 28th. Oppenheimer lowered their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Jefferies Financial Group lowered their target price on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $669.62.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Citi added AppLovin to its “Upside 90-Day Catalyst Watch,” suggesting a near-term catalyst could help support the stock. Citi Adds “Upside 90-Day Catalyst Watch” on AppLovin Corporation (APP)
• Positive Sentiment: Analyst commentary remains constructive, with recent notes reaffirming bullish ratings and one article highlighting AppLovin’s recent gains and expected EPS growth of more than 40% annually over the next five years. AppLovin Corporation (APP) Up More Than 12% Over the Past Month, Here’s Why it is an Unstoppable Growth Stock

AppLovin Company Profile

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.