AppLovin (NASDAQ:APP) Director Maynard Webb, Jr. Sells 3,076 Shares of Stock

AppLovin Corporation (NASDAQ:APP) Director Maynard Webb, Jr. sold 3,076 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the transaction, the director owned 123,520 shares in the company, valued at $71,893,580.80. This trade represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

AppLovin Trading Down 0.3%

APP stock opened at $557.20 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company’s 50-day simple moving average is $470.43 and its 200 day simple moving average is $521.43. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The company has a market capitalization of $187.19 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company posted $1.67 earnings per share. AppLovin’s revenue was up 58.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Argus assumed coverage on shares of AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective for the company. Piper Sandler upped their price objective on shares of AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Finally, Citigroup reaffirmed a “buy” rating and set a $710.00 price objective on shares of AppLovin in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CBIZ Investment Advisory Services LLC lifted its holdings in shares of AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after acquiring an additional 18 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after acquiring an additional 20 shares during the last quarter. Finally, Strategic Advocates LLC lifted its holdings in shares of AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.