AppLovin Co. (NASDAQ:APP) CFO Sells $7,019,669.67 in Stock

AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf sold 21,101 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total value of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares of the company’s stock, valued at $70,970,487.12. This trade represents a 9.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AppLovin Trading Up 4.7 %

NASDAQ APP traded up $15.07 during trading on Friday, reaching $333.31. 6,872,106 shares of the stock traded hands, compared to its average volume of 4,452,786. The stock’s 50-day moving average price is $181.30 and its 200 day moving average price is $117.13. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $111.86 billion, a price-to-earnings ratio of 101.00, a price-to-earnings-growth ratio of 3.95 and a beta of 1.86. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $342.51.

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

Hedge Funds Weigh In On AppLovin

Institutional investors have recently bought and sold shares of the business. Second Half Financial Partners LLC bought a new position in shares of AppLovin during the third quarter worth approximately $224,000. Eagle Asset Management Inc. grew its holdings in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. WCM Investment Management LLC increased its holdings in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the period. Oppenheimer Asset Management Inc. raised its position in AppLovin by 10.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock valued at $3,440,000 after purchasing an additional 2,385 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of AppLovin by 2,081.4% during the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after buying an additional 15,590 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of several research analyst reports. Benchmark restated a “sell” rating and set a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Macquarie increased their price objective on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Bank of America boosted their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Oppenheimer increased their price target on shares of AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.96.

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.