AppLovin (NASDAQ:APP) Insider Victoria Valenzuela Sells 20,000 Shares

AppLovin Corporation (NASDAQ:APP) insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AppLovin Stock Up 1.2%

Shares of AppLovin stock opened at $563.69 on Tuesday. 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 company has a 50-day moving average of $473.88 and a 200 day moving average of $521.57. The firm has a market cap of $189.37 billion, a price-to-earnings ratio of 48.43, a PEG 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 issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same period last year, the business earned $1.67 EPS. As a group, sell-side analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Oppenheimer decreased their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Wedbush reissued an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a “neutral” rating in a research report on Monday, March 2nd. Piper Sandler increased their price objective on shares of AppLovin from $650.00 to $665.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group cut their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. 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’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $664.35.

Institutional Trading of AppLovin

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in AppLovin by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after purchasing an additional 166,117 shares during the last quarter. State Street Corp grew its position in AppLovin by 0.4% during the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after purchasing an additional 52,377 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after acquiring an additional 448,005 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of AppLovin by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after acquiring an additional 212,349 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of AppLovin by 10.7% during the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after acquiring an additional 538,806 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Company Profile

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.