AppLovin (NASDAQ:APP) Director Eduardo Vivas Sells 163,910 Shares

AppLovin Corporation (NASDAQ:APP) Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

AppLovin Price Performance

APP opened at $469.71 on Friday. The stock has a fifty day moving average of $490.66 and a 200-day moving average of $518.14. The firm has a market capitalization of $157.79 billion, a P/E ratio of 40.35, a PEG ratio of 0.78 and a beta of 2.45. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm posted $1.67 earnings per share. AppLovin’s revenue was up 58.9% compared to the same quarter last year. Equities analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Large investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. increased its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of AppLovin during the 4th quarter worth about $27,000. Mcguire Capital Advisors Inc. acquired a new position in shares of AppLovin during the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of AppLovin during the 4th quarter valued at about $32,000. Finally, Graney & King LLC bought a new position in shares of AppLovin in the 3rd quarter valued at approximately $36,000. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. BTIG Research reissued a “buy” rating and issued a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $669.62.

AppLovin Company Profile

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.