AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey Sells 500 Shares

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares in the company, valued at $2,715,508.68. This represents a 6.96 % 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 Trading Down 6.3 %

NASDAQ APP traded down $21.48 on Tuesday, hitting $321.06. The company’s stock had a trading volume of 9,008,933 shares, compared to its average volume of 4,577,098. 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 52-week low of $35.79 and a 52-week high of $417.64. The firm has a market cap of $107.75 billion, a P/E ratio of 100.91, a PEG ratio of 4.95 and a beta of 2.27. The company’s 50-day simple moving average is $230.54 and its 200 day simple moving average is $138.34.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. Research analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently modified their holdings of APP. Townsquare Capital LLC grew its stake in AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after purchasing an additional 3,126 shares during the period. Second Half Financial Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at $224,000. State Street Corp grew its position in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the period. Eagle Asset Management Inc. increased its stake in shares of AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management lifted its position in AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after acquiring an additional 81,331 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Jefferies Financial Group upped their target price on AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Benchmark reaffirmed a “sell” rating and set a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Finally, Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

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.