Katie Kihorany Jansen Sells 72,306 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen sold 72,306 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $83.71, for a total transaction of $6,052,735.26. Following the sale, the chief marketing officer now directly owns 1,092,090 shares in the company, valued at approximately $91,418,853.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Katie Kihorany Jansen also recently made the following trade(s):

• On Monday, August 12th, Katie Kihorany Jansen sold 72,307 shares of AppLovin stock. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76.
• On Thursday, May 23rd, Katie Kihorany Jansen sold 12,755 shares of AppLovin stock. The shares were sold at an average price of $79.01, for a total transaction of $1,007,772.55.

AppLovin Stock Up 6.1 %

APP traded up $4.85 during trading on Wednesday, reaching $84.64. The company had a trading volume of 6,271,304 shares, compared to its average volume of 4,159,799. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $91.91. The business’s fifty day moving average price is $79.82 and its 200 day moving average price is $72.07. The company has a market cap of $27.85 billion, a P/E ratio of 50.38, a PEG ratio of 1.27 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 44.0% on a year-over-year basis. Equities analysts anticipate that AppLovin Co. will post 2.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wedbush cut their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Stifel Nicolaus upped their target price on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Jefferies Financial Group upped their target price on shares of AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Citigroup lifted their price objective on shares of AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Morgan Stanley lifted their price objective on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.44.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Trust increased its holdings in AppLovin by 2.8% during the first quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after buying an additional 150 shares during the last quarter. Highland Capital Management LLC increased its holdings in AppLovin by 0.5% during the first quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock worth $1,946,000 after buying an additional 153 shares during the last quarter. GAMMA Investing LLC increased its holdings in AppLovin by 13.6% during the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $89,000 after buying an additional 154 shares during the last quarter. DeDora Capital Inc. increased its holdings in AppLovin by 1.8% during the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock worth $664,000 after buying an additional 166 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in AppLovin by 10.3% during the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock worth $184,000 after buying an additional 205 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.