Victoria Valenzuela Sells 6,585 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 6,585 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the completion of the transaction, the insider now directly owns 357,903 shares in the company, valued at approximately $132,506,427.69. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Victoria Valenzuela also recently made the following trade(s):

• On Wednesday, May 21st, Victoria Valenzuela sold 6,599 shares of AppLovin stock. The shares were sold at an average price of $369.35, for a total value of $2,437,340.65.

AppLovin Stock Down 1.9%

Shares of NASDAQ APP opened at $351.47 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a 50-day moving average price of $291.13 and a 200-day moving average price of $322.85. The stock has a market capitalization of $118.93 billion, a P/E ratio of 77.42, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. On average, equities research analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. McAdam LLC boosted its holdings in AppLovin by 54.6% during the 1st quarter. McAdam LLC now owns 1,940 shares of the company’s stock worth $514,000 after acquiring an additional 685 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of AppLovin by 65.6% during the first quarter. Acadian Asset Management LLC now owns 17,960 shares of the company’s stock valued at $4,752,000 after purchasing an additional 7,113 shares in the last quarter. Geneos Wealth Management Inc. grew its position in AppLovin by 285.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,398 shares of the company’s stock worth $1,165,000 after purchasing an additional 3,258 shares in the last quarter. Intech Investment Management LLC grew its position in AppLovin by 24.2% in the 1st quarter. Intech Investment Management LLC now owns 84,364 shares of the company’s stock worth $22,354,000 after purchasing an additional 16,419 shares in the last quarter. Finally, Capital Impact Advisors LLC purchased a new stake in AppLovin in the 1st quarter valued at about $8,957,000. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. HSBC set a $436.00 price objective on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Morgan Stanley boosted their target price on shares of AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. The Goldman Sachs Group increased their price target on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Finally, FBN Securities assumed coverage on AppLovin in a research report on Friday, March 28th. They issued an “outperform” rating and a $385.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $433.85.

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.