AppLovin (NASDAQ:APP) Director Sells $1,790,355.04 in Stock

AppLovin Corporation (NASDAQ:APP) Director Maynard Webb, Jr. sold 3,076 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $582.04, for a total value of $1,790,355.04. Following the transaction, the director directly owned 123,520 shares of the company’s stock, valued at $71,893,580.80. The trade was a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

AppLovin Price Performance

APP stock opened at $557.20 on Monday. The business’s 50-day moving average is $470.43 and its two-hundred day moving average is $521.30. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a market capitalization of $187.19 billion, a P/E ratio of 47.87, a P/E/G ratio of 0.91 and a beta of 2.45. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the company posted $1.67 earnings per share. The business’s revenue for the quarter was up 58.9% on a year-over-year basis. Analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC purchased a new stake in AppLovin in the 4th quarter valued at $294,000. Bison Wealth LLC purchased a new position in AppLovin during the 4th quarter worth $239,000. Integrated Wealth Concepts LLC increased its stake in AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares during the period. NewEdge Advisors LLC raised its holdings in shares of AppLovin by 5.7% in the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after buying an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after buying an additional 9,380 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on APP shares. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. UBS Group lowered their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Finally, Arete Research set a $340.00 target price on AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $664.35.

About AppLovin

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.