AppLovin Co. (NASDAQ:APP) CMO Sells $17,132,918.64 in Stock

AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

AppLovin Price Performance

Shares of AppLovin stock opened at $291.09 on Friday. The stock has a market cap of $97.30 billion, a price-to-earnings ratio of 88.21, a price-to-earnings-growth ratio of 3.49 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a 50 day moving average price of $159.14 and a 200-day moving average price of $108.84. AppLovin Co. has a one year low of $35.79 and a one year high of $302.55.

AppLovin (NASDAQ:APP) last posted 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 return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 EPS. AppLovin’s revenue was up 38.6% compared to the same quarter last year. Equities analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on APP. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and increased their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. Bank of America increased their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Macquarie increased their target price on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.31.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after acquiring an additional 449,241 shares during the period. Vestcor Inc boosted its holdings in AppLovin by 32.9% during the 3rd quarter. Vestcor Inc now owns 3,925 shares of the company’s stock valued at $512,000 after acquiring an additional 972 shares during the period. M&T Bank Corp raised its position in AppLovin by 54.0% during the 3rd quarter. M&T Bank Corp now owns 36,799 shares of the company’s stock valued at $4,805,000 after purchasing an additional 12,901 shares in the last quarter. Barclays PLC raised its position in AppLovin by 92.5% during the 3rd quarter. Barclays PLC now owns 318,992 shares of the company’s stock valued at $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in AppLovin by 12.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 87,475 shares of the company’s stock valued at $11,420,000 after purchasing an additional 9,530 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.