Victoria Valenzuela Sells 6,599 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 6,599 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $369.35, for a total transaction of $2,437,340.65. Following the sale, the insider now owns 344,256 shares in the company, valued at approximately $127,150,953.60. The trade was a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, May 19th, Victoria Valenzuela sold 6,585 shares of AppLovin stock. The stock was sold at an average price of $370.23, for a total transaction of $2,437,964.55.

AppLovin Stock Down 1.9%

Shares of NASDAQ APP opened at $351.47 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The firm’s 50-day moving average price is $291.13 and its 200-day moving average price is $322.85. The stock has a market capitalization of $118.93 billion, a price-to-earnings ratio of 77.42, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on APP shares. Piper Sandler lifted their target price on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Loop Capital restated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. Oppenheimer reissued an “outperform” rating and set a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their price target on AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.85.

Hedge Funds Weigh In On AppLovin

Several large investors have recently modified their holdings of the stock. FMR LLC lifted its position in AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at $1,781,922,000. Baillie Gifford & Co. lifted its holdings in shares of AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares during the last quarter. Dynasty Wealth Management LLC boosted its stake in shares of AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after purchasing an additional 2,700,399 shares during the period. Finally, Norges Bank bought a new position in AppLovin during the 4th quarter valued at about $828,138,000. Institutional investors own 41.85% of the company’s stock.

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.