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

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

AppLovin Stock Down 1.1%

Shares of NASDAQ:APP opened at $522.18 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a one year low of $332.32 and a one year high of $745.61. The company has a market cap of $175.42 billion, a price-to-earnings ratio of 44.86, a PEG ratio of 0.85 and a beta of 2.49. The firm has a fifty day moving average price of $506.46 and a two-hundred day moving average price of $500.51.

AppLovin (NASDAQ:APP) last announced its 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 business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 EPS. Analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in AppLovin by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after purchasing an additional 166,117 shares during the period. State Street Corp boosted its position in shares of AppLovin by 0.4% in the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after purchasing an additional 52,377 shares during the period. Geode Capital Management LLC raised its position in shares of AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after purchasing an additional 448,005 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in AppLovin by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock worth $4,103,386,000 after buying an additional 212,349 shares during the period. Finally, Morgan Stanley raised its holdings in AppLovin by 10.7% during the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after acquiring an additional 538,806 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APP. Wedbush reiterated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a report on Tuesday. Citigroup reissued a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Finally, Argus started coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $668.45.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Wells Fargo raised its price target on AppLovin to $575 from $571 and kept an overweight rating, suggesting upside from current levels. Benzinga report
• Positive Sentiment: Recent commentary highlighted AppLovin’s strong operating momentum, including 59% revenue growth in the latest quarter, expanding margins, and continued strength from its AI-driven ad platform. Seeking Alpha article
• Neutral Sentiment: Analysts and market commentary continue to debate whether AppLovin’s recent pullback has created a buying opportunity, with some noting the stock still trades at a premium valuation. Zacks article
• Negative Sentiment: Director Maynard G. Webb, Jr. sold 3,076 shares worth about $1.6 million, a transaction that may be read as insider caution even though he still owns a large stake. SEC filing
• Negative Sentiment: Bearish articles noted that AppLovin has been volatile after a strong multi-year run, and one piece suggested a downgrade could be near, which may be weighing on sentiment. Seeking Alpha article

About AppLovin

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.