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

AppLovin Corporation (NASDAQ:APP) Director Maynard Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction on Monday, July 6th. The shares were sold at an average price of $521.29, for a total value of $1,603,488.04. Following the sale, the director directly owned 120,444 shares of the company’s stock, valued at approximately $62,786,252.76. The trade was a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

AppLovin Stock Down 1.1%

NASDAQ APP traded down $5.80 on Wednesday, reaching $522.18. The stock had a trading volume of 4,825,912 shares, compared to its average volume of 5,520,233. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 1 year low of $332.32 and a 1 year high of $745.61. The business has a 50 day moving average price of $505.22 and a 200 day moving average price of $501.73. The company has a market capitalization of $175.42 billion, a price-to-earnings ratio of 44.86, a P/E/G ratio of 0.88 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period last year, the business earned $1.67 EPS. On average, analysts forecast that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on APP. KeyCorp set a $775.00 target price on shares of AppLovin in a research report on Wednesday, June 10th. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Raymond James Financial assumed coverage on shares of AppLovin in a report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 price objective for the company. Finally, UBS Group lowered their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $668.45.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC acquired a new position in AppLovin in the 4th quarter valued at $294,000. Bison Wealth LLC acquired a new position in AppLovin during the 4th quarter worth $239,000. Integrated Wealth Concepts LLC boosted its holdings in AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after acquiring an additional 621 shares during the period. NewEdge Advisors LLC boosted its holdings in AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after acquiring an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.