Insider Selling: AppLovin Co. (NASDAQ:APP) CTO Sells $189,574,199.56 in Stock

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 593,588 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 shares were sold at an average price of $86.04, for a total transaction of $473,220.00.
• On Friday, September 6th, Vasily Shikin sold 154,500 shares of AppLovin stock. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00.

AppLovin Price Performance

Shares of NASDAQ APP opened at $333.31 on Monday. 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 company has a market cap of $111.86 billion, a PE ratio of 101.00, a P/E/G ratio of 3.92 and a beta of 1.86. The business has a 50-day simple moving average of $181.30 and a two-hundred day simple moving average of $117.71. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $342.51.

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

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Loop Capital increased their price objective on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wedbush reiterated an “outperform” rating and set a $270.00 target price (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One investment 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.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $222.96.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Fred Alger Management LLC acquired a new position in AppLovin in the second quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC purchased a new stake in shares of AppLovin in the first quarter valued at approximately $195,129,000. Jericho Capital Asset Management L.P. increased its position in shares of AppLovin by 185.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.