AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen Sells 400,000 Shares

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 400,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the sale, the director now owns 221,209 shares in the company, valued at $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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 stock opened at $366.61 on Friday. The company has a market capitalization of $124.63 billion, a price-to-earnings ratio of 80.75, a PEG ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a 50-day moving average price of $283.05 and a 200 day moving average price of $316.16. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

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

Wall Street Analysts Forecast Growth

APP has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $270.00 to $355.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Oppenheimer reiterated an “outperform” rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. The Goldman Sachs Group raised their price objective on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Finally, Piper Sandler boosted their price objective on AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $433.85.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in APP. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin in the fourth quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new position in AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co boosted its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in shares of AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management increased its holdings in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors 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.