Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 28,580 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 28,580 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $365.84, for a total value of $10,455,707.20. Following the sale, the director now owns 171,420 shares in the company, valued at approximately $62,712,292.80. The trade was a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $373.77, for a total value of $64,071,653.40.

AppLovin Trading Down 2.6%

Shares of APP opened at $366.61 on Friday. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $124.63 billion, a price-to-earnings ratio of 80.75, a P/E/G ratio of 3.02 and a beta of 2.39. The stock’s 50-day moving average price is $283.05 and its 200 day moving average price is $316.16.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. As a group, research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. HSBC set a $436.00 price target on AppLovin and gave the company a “buy” rating in a research report on Wednesday, April 23rd. FBN Securities initiated coverage on AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Wells Fargo & Company raised their price objective on AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Piper Sandler increased their target price on AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $433.85.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company’s stock valued at $41,643,000 after purchasing an additional 153,248 shares during the period. Chicago Capital LLC bought a new position in AppLovin during the 4th quarter worth about $323,000. Brookstone Capital Management bought a new position in AppLovin during the 4th quarter worth about $290,000. Claro Advisors LLC bought a new position in shares of AppLovin in the 4th quarter valued at about $415,000. Finally, FNY Investment Advisers LLC bought a new position in shares of AppLovin in the 4th quarter valued at about $158,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.