AppLovin Co. (NASDAQ:APP) Director Craig Scott Billings Sells 18,000 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Craig Scott Billings sold 18,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now owns 2,987 shares in the company, valued at approximately $952,673.78. This represents a 85.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AppLovin Stock Performance

AppLovin stock opened at $333.31 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $342.51. The stock has a fifty day moving average of $181.30 and a two-hundred day moving average of $117.13. The company has a market capitalization of $111.86 billion, a price-to-earnings ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. On average, analysts anticipate that AppLovin Co. will post 4.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on APP. Citigroup upped their price target on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Benchmark reaffirmed a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Loop Capital increased their target price on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group upped their price objective on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $222.96.

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.