AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey Sells 1,500 Shares

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

AppLovin Trading Up 8.2 %

NASDAQ APP opened at $105.61 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $106.45. The business has a 50 day moving average price of $83.57 and a 200-day moving average price of $77.74. The company has a market cap of $35.30 billion, a price-to-earnings ratio of 62.86, a P/E/G ratio of 1.41 and a beta of 1.88.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. As a group, equities analysts expect that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APP. Jefferies Financial Group increased their target price on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday. Oppenheimer restated an “outperform” rating and issued a $105.00 target price (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. BTIG Research increased their price target on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, Bank of America raised their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of AppLovin during the 2nd quarter valued at approximately $33,000. Oliver Lagore Vanvalin Investment Group bought a new position in AppLovin during the second quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in AppLovin in the second quarter worth $37,000. Summit Securities Group LLC bought a new stake in shares of AppLovin in the second quarter valued at $42,000. Finally, Covestor Ltd lifted its position in shares of AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.