Insider Selling: AppLovin Co. (NASDAQ:APP) Insider Sells 50,000 Shares of Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the transaction, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Victoria Valenzuela also recently made the following trade(s):

• On Thursday, February 22nd, Victoria Valenzuela sold 2,890 shares of AppLovin stock. The stock was sold at an average price of $57.76, for a total value of $166,926.40.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $76.34 on Thursday. AppLovin Co. has a 12 month low of $15.41 and a 12 month high of $79.55. The stock has a market cap of $26.11 billion, a price-to-earnings ratio of 76.34, a PEG ratio of 1.57 and a beta of 1.90. The stock’s 50 day moving average price is $61.55 and its 200 day moving average price is $47.39. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. Equities research analysts anticipate that AppLovin Co. will post 2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC acquired a new position in AppLovin in the fourth quarter worth approximately $32,000. BluePath Capital Management LLC acquired a new position in AppLovin in the third quarter worth approximately $33,000. Tower Research Capital LLC TRC grew its position in AppLovin by 86.1% in the third quarter. Tower Research Capital LLC TRC now owns 927 shares of the company’s stock worth $37,000 after buying an additional 429 shares during the last quarter. Castleview Partners LLC acquired a new position in AppLovin in the third quarter worth approximately $38,000. Finally, JPMorgan Chase & Co. grew its position in AppLovin by 99.0% in the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock worth $54,000 after buying an additional 488 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on APP shares. BTIG Research lifted their target price on AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday. Wedbush lifted their target price on AppLovin from $58.50 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. UBS Group lifted their target price on AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer lifted their price target on AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Monday. Finally, HSBC began coverage on AppLovin in a report on Monday, December 18th. They set a “buy” rating and a $53.20 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.11.

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.