Herald Y. Chen Sells 200,000 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

AppLovin Trading Down 2.8 %

Shares of APP opened at $318.00 on Thursday. AppLovin Co. has a fifty-two week low of $59.30 and a fifty-two week high of $525.15. The firm has a market cap of $106.72 billion, a price-to-earnings ratio of 70.04, a PEG ratio of 3.02 and a beta of 2.30. The firm has a 50 day moving average price of $366.88 and a 200-day moving average price of $259.26. 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 (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. New York State Teachers Retirement System lifted its position in AppLovin by 97.8% in the third quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock valued at $1,939,000 after purchasing an additional 7,342 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of AppLovin in the third quarter worth $296,000. US Bancorp DE raised its holdings in AppLovin by 7.5% during the 3rd quarter. US Bancorp DE now owns 53,986 shares of the company’s stock valued at $7,048,000 after buying an additional 3,771 shares during the last quarter. Stephens Inc. AR boosted its position in AppLovin by 56.4% during the 3rd quarter. Stephens Inc. AR now owns 6,620 shares of the company’s stock valued at $864,000 after buying an additional 2,387 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in AppLovin by 150.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock worth $133,000 after acquiring an additional 613 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APP has been the topic of a number of analyst reports. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Loop Capital upped their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Benchmark boosted their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $452.29.

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.