Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 30,500 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $339.69, for a total transaction of $10,360,545.00. Following the transaction, the director now owns 154,500 shares in the company, valued at $52,482,105. The trade was a 16.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $25.96 during trading hours on Tuesday, hitting $366.55. 7,352,354 shares of the stock were exchanged, compared to its average volume of 7,688,179. The company’s 50 day moving average is $206.20 and its 200 day moving average is $128.10. The firm has a market capitalization of $123.01 billion, a P/E ratio of 111.08, a P/E/G ratio of 4.20 and a beta of 2.28. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a one year low of $35.79 and a one year high of $372.57.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. On average, research analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Institutional Trading of AppLovin

Several hedge funds have recently modified their holdings of APP. Capital Performance Advisors LLP bought a new stake in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the 3rd quarter valued at approximately $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin during the second quarter valued at about $33,000. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

APP has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. BTIG Research raised their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Jefferies Financial Group lifted their target price on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $265.57.

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.