Victoria Valenzuela Sells 47,001 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the sale, the insider now directly owns 390,615 shares of the company’s stock, valued at approximately $33,225,711.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, June 13th, Victoria Valenzuela sold 11,276 shares of AppLovin stock. The shares were sold at an average price of $75.71, for a total transaction of $853,705.96.
• On Wednesday, May 22nd, Victoria Valenzuela sold 2,890 shares of AppLovin stock. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30.
• On Thursday, April 4th, Victoria Valenzuela sold 50,000 shares of AppLovin stock. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00.

AppLovin Stock Up 3.9 %

NASDAQ:APP traded up $3.28 during mid-day trading on Wednesday, hitting $86.96. The stock had a trading volume of 2,986,841 shares, compared to its average volume of 4,296,372. AppLovin Co. has a twelve month low of $25.24 and a twelve month high of $88.50. The stock has a 50-day simple moving average of $79.73 and a two-hundred day simple moving average of $63.91. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The company has a market capitalization of $28.61 billion, a PE ratio of 49.81, a PEG ratio of 1.41 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $973.70 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue was up 47.9% compared to the same quarter last year. On average, equities research analysts anticipate that AppLovin Co. will post 2.96 EPS for the current year.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently added to or reduced their stakes in APP. Gulf International Bank UK Ltd purchased a new position in shares of AppLovin during the first quarter worth approximately $1,131,000. CWM LLC increased its stake in AppLovin by 16.3% in the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after purchasing an additional 401 shares during the period. Contrarius Investment Management Ltd acquired a new position in AppLovin in the fourth quarter valued at $7,334,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AppLovin in the fourth quarter valued at about $2,284,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of AppLovin by 76.8% during the first quarter. Los Angeles Capital Management LLC now owns 415,501 shares of the company’s stock worth $28,761,000 after buying an additional 180,459 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. The Goldman Sachs Group lifted their target price on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Oppenheimer reaffirmed an “outperform” rating and set a $97.00 target price on shares of AppLovin in a research note on Thursday, June 13th. Wedbush boosted their price target on shares of AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. BTIG Research increased their price objective on shares of AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus boosted their target price on AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.72.

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.