AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey Sells 4,371 Shares

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $75.65, for a total transaction of $330,666.15. Following the transaction, the director now directly owns 11,565 shares of the company’s stock, valued at $874,892.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

AppLovin Stock Up 1.2 %

Shares of NASDAQ APP opened at $78.46 on Tuesday. AppLovin Co. has a 1 year low of $22.85 and a 1 year high of $88.50. The firm’s 50 day moving average price is $77.81 and its 200 day moving average price is $60.54. The firm has a market cap of $25.81 billion, a P/E ratio of 46.70, a price-to-earnings-growth ratio of 1.31 and a beta of 1.88. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. During the same quarter last year, the business earned ($0.01) earnings per share. AppLovin’s revenue was up 47.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.96 earnings per share for the current year.

Analysts Set New Price Targets

APP has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Stifel Nicolaus increased their target price on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $97.00 target price on shares of AppLovin in a report on Thursday, June 13th. The Goldman Sachs Group increased their target price on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Daiwa Capital Markets initiated coverage on shares of AppLovin in a report on Monday, April 15th. They issued a “neutral” rating and a $80.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $71.72.

Hedge Funds Weigh In On AppLovin

A number of hedge funds have recently made changes to their positions in APP. WCM Investment Management LLC acquired a new position in shares of AppLovin in the 1st quarter valued at $497,488,000. Sapient Capital LLC acquired a new position in shares of AppLovin during the 4th quarter valued at $165,057,000. Whale Rock Capital Management LLC acquired a new position in shares of AppLovin during the 1st quarter valued at $195,129,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of AppLovin by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after acquiring an additional 1,411,453 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.