Insider Selling: AppLovin Co. (NASDAQ:APP) Director Sells 30,500 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $339.69, for a total transaction of $10,360,545.00. Following the completion of the sale, the director now directly owns 154,500 shares in the company, valued at $52,482,105. This represents a 16.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

AppLovin Trading Up 7.6 %

Shares of APP opened at $366.55 on Wednesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $372.57. The company has a 50 day simple moving average of $206.20 and a two-hundred day simple moving average of $128.10. The firm has a market cap of $123.01 billion, a P/E ratio of 111.08, a price-to-earnings-growth ratio of 4.20 and a beta of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue was up 38.6% on a year-over-year basis. On average, equities analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APP. Stifel Nicolaus upped their price target on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup upped their price target on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Wedbush restated an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. WCM Investment Management LLC boosted its position 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 valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. FMR LLC lifted its position in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. Lone Pine Capital LLC lifted its position in AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after buying an additional 382,767 shares during the last quarter. State Street Corp lifted its position in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after buying an additional 449,241 shares during the last quarter. 41.85% of the stock is currently owned by 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.