Insider Selling: AppLovin (NASDAQ:APP) Director Sells $82,620,474.60 in Stock

AppLovin Corporation (NASDAQ:APP) Director Eduardo Vivas sold 163,910 shares of the business’s 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 sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

AppLovin Trading Down 2.0%

NASDAQ APP traded down $9.78 during trading hours on Thursday, hitting $469.71. The company’s stock had a trading volume of 9,516,684 shares, compared to its average volume of 5,531,939. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The firm has a market capitalization of $157.79 billion, a P/E ratio of 40.35, a PEG ratio of 0.84 and a beta of 2.45. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a fifty day moving average of $489.48 and a 200 day moving average of $519.07.

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

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in the company. PVG Asset Management Corp increased its position in shares of AppLovin by 275.3% in the 1st quarter. PVG Asset Management Corp now owns 3,036 shares of the company’s stock valued at $1,208,000 after buying an additional 2,227 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of AppLovin during the 1st quarter valued at about $3,184,000. Rathbones Group PLC grew its position in shares of AppLovin by 69.6% in the 1st quarter. Rathbones Group PLC now owns 702 shares of the company’s stock valued at $279,000 after purchasing an additional 288 shares during the period. Pine Valley Investments Ltd Liability Co grew its position in shares of AppLovin by 4.4% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 12,388 shares of the company’s stock valued at $4,930,000 after purchasing an additional 527 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in AppLovin by 12.2% during the 1st quarter. Glenmede Trust Co. NA now owns 5,075 shares of the company’s stock worth $2,020,000 after purchasing an additional 550 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Oppenheimer decreased their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. KeyCorp set a $775.00 target price on AppLovin in a research note on Wednesday, June 10th. Benchmark restated a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Finally, UBS Group decreased their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.