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

AppLovin Corporation (NASDAQ:APP) Director Dawson Alyssa Harvey sold 150 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the sale, the director owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 value of $117,836.00.

AppLovin Trading Up 1.0%

NASDAQ APP opened at $710.26 on Thursday. The company has a market capitalization of $240.03 billion, a price-to-earnings ratio of 85.32, a price-to-earnings-growth ratio of 3.89 and a beta of 2.51. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company’s fifty day moving average price is $608.54 and its two-hundred day moving average price is $497.18.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The company’s revenue for the quarter was up 68.2% on a year-over-year basis. As a group, 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 modified their holdings of APP. Hilltop National Bank acquired a new stake in shares of AppLovin in the second quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA bought a new position in AppLovin in the 2nd quarter worth approximately $26,000. SouthState Corp acquired a new stake in AppLovin in the 1st quarter valued at approximately $29,000. Chilton Capital Management LLC acquired a new stake in AppLovin in the 3rd quarter valued at approximately $29,000. Finally, Activest Wealth Management raised its stake in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler increased their target price on AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Wells Fargo & Company lifted their price objective on shares of AppLovin from $633.00 to $721.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Bank of America boosted their target price on shares of AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Morgan Stanley increased their target price on shares of AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Finally, BTIG Research lifted their price target on shares of AppLovin from $693.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Nineteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $683.60.

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.