AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen Sells 59,876 Shares

AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

AppLovin Trading Up 0.2 %

Shares of NASDAQ APP traded up $0.53 on Thursday, reaching $284.49. 7,159,306 shares of the company traded hands, compared to its average volume of 4,312,054. The company has a 50 day moving average of $151.08 and a 200 day moving average of $105.82. 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 fifty-two week low of $35.79 and a fifty-two week high of $302.55. The stock has a market capitalization of $95.09 billion, a PE ratio of 86.05, a P/E/G ratio of 3.56 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’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. On average, equities research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in shares of AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares in the last quarter. Empowered Funds LLC acquired a new position in AppLovin during the first quarter valued at approximately $1,235,000. SG Americas Securities LLC grew its stake in AppLovin by 33.5% during the first quarter. SG Americas Securities LLC now owns 4,100 shares of the company’s stock worth $284,000 after buying an additional 1,028 shares during the period. Sei Investments Co. grew its stake in AppLovin by 457.9% during the first quarter. Sei Investments Co. now owns 291,359 shares of the company’s stock worth $20,168,000 after buying an additional 239,131 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of AppLovin by 9.7% in the first quarter. QRG Capital Management Inc. now owns 7,988 shares of the company’s stock worth $553,000 after acquiring an additional 705 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APP. Stifel Nicolaus upped their price target on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. BTIG Research lifted their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark reissued a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Citigroup lifted their target price on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company began coverage on shares of AppLovin in a research report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.31.

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.