AppLovin Co. (NASDAQ:APP) CTO Sells $12,999,630.00 in Stock

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 154,500 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. The sale was disclosed in a filing with the SEC, which is available at this link.

Vasily Shikin also recently made the following trade(s):

• On Monday, September 9th, Vasily Shikin sold 5,500 shares of AppLovin stock. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00.

AppLovin Price Performance

Shares of NASDAQ APP traded down $0.08 during trading hours on Tuesday, reaching $86.23. 2,827,674 shares of the stock traded hands, compared to its average volume of 4,040,011. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $93.70. The company has a market capitalization of $28.82 billion, a P/E ratio of 51.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.88. The company’s 50-day simple moving average is $82.93 and its two-hundred day simple moving average is $77.20. 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 (NASDAQ:APP) last released 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 return on equity of 84.16% and a net margin of 20.89%. AppLovin’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 EPS. Equities research analysts forecast that AppLovin Co. will post 3.48 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on APP shares. Benchmark upped their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. Jefferies Financial Group boosted their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush lowered their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.09.

Institutional Trading of AppLovin

Several institutional investors have recently added to or reduced their stakes in APP. Precision Wealth Strategies LLC purchased a new stake in AppLovin during the 4th quarter valued at approximately $324,000. Victory Capital Management Inc. grew its stake in AppLovin by 5.2% in the 4th quarter. Victory Capital Management Inc. now owns 261,024 shares of the company’s stock worth $10,402,000 after acquiring an additional 12,803 shares in the last quarter. Amalgamated Bank increased its holdings in AppLovin by 41.0% during the 4th quarter. Amalgamated Bank now owns 49,388 shares of the company’s stock worth $1,968,000 after purchasing an additional 14,354 shares during the period. M&T Bank Corp raised its holdings in shares of AppLovin by 37.3% in the fourth quarter. M&T Bank Corp now owns 21,660 shares of the company’s stock valued at $863,000 after acquiring an additional 5,883 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of AppLovin by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,695 shares of the company’s stock worth $40,715,000 after purchasing an additional 31,773 shares during the period. 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.