Barbara Messing Sells 1,500 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) Director Barbara Messing sold 1,500 shares of AppLovin stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total transaction of $573,690.00. Following the transaction, the director now directly owns 9,510 shares in the company, valued at $3,637,194.60. This trade represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

AppLovin Stock Performance

NASDAQ:APP opened at $364.49 on Friday. The stock has a market cap of $123.34 billion, a P/E ratio of 80.28, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. The firm’s fifty day simple moving average is $324.29 and its 200 day simple moving average is $334.18. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

Analyst Upgrades and Downgrades

APP has been the topic of several research reports. Morgan Stanley lifted their price target on shares of AppLovin from $420.00 to $460.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. UBS Group lifted their price target on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Wednesday, May 28th. Jefferies Financial Group lifted their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Arete Research set a $200.00 price target on shares of AppLovin in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $438.10.

Institutional Trading of AppLovin

A number of hedge funds have recently modified their holdings of APP. FMR LLC boosted its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. SVB Wealth LLC bought a new position in AppLovin in the 4th quarter worth about $1,781,922,000. Baillie Gifford & Co. boosted its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Dynasty Wealth Management LLC boosted its stake in AppLovin by 117,664.4% in the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after purchasing an additional 2,700,399 shares in the last quarter. Finally, Norges Bank bought a new position in AppLovin in the 4th quarter worth about $828,138,000. Institutional investors 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.