AppLovin Corporation (NASDAQ:APP) Director Herald Y. Chen Sells 200,000 Shares

AppLovin Corporation (NASDAQ:APP) Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the transaction, the director owned 181,929 shares in the company, valued at approximately $78,682,473.21. The trade was a 52.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $438.54 on Tuesday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $148.34 billion, a PE ratio of 62.29, a P/E/G ratio of 2.45 and a beta of 2.43. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15. The company has a 50-day moving average price of $371.92 and a two-hundred day moving average price of $343.39.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business earned $0.89 earnings per share. AppLovin’s revenue was up 77.1% compared to the same quarter last year. Equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Institutional Investors Weigh In On AppLovin

Hedge funds have recently bought and sold shares of the stock. Hilltop National Bank bought a new stake in AppLovin during the second quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA bought a new stake in AppLovin during the second quarter valued at approximately $26,000. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the fourth quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC bought a new stake in AppLovin during the second quarter valued at approximately $33,000. Finally, Atala Financial Inc bought a new stake in AppLovin during the first quarter valued at approximately $26,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of AppLovin from $430.00 to $450.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. The Goldman Sachs Group raised their price target on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Jefferies Financial Group raised their price target on shares of AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley raised their price target on shares of AppLovin from $460.00 to $480.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $472.33.

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.