Key Points
- AppLovin CFO Matthew Stumpf sold 9,052 shares on May 28 at an average price of $600, totaling about $5.43 million. After the sale, he still held 177,450 shares valued at roughly $106.47 million.
- AppLovin shares rose 2.2% and opened at $613.09, near the stock’s 52-week high of $745.61. The company now has a market cap of about $205.96 billion.
- Recent earnings were strong, with AppLovin reporting $3.56 EPS versus estimates of $3.44 and revenue of $1.84 billion, up 58.9% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $664.35.
AppLovin Corporation (NASDAQ:APP - Get Free Report) CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company's stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
AppLovin Stock Up 2.2%
NASDAQ:APP opened at $613.09 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The stock has a 50-day simple moving average of $456.58 and a 200 day simple moving average of $521.70. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company has a market capitalization of $205.96 billion, a price-to-earnings ratio of 52.67, a price-to-earnings-growth ratio of 0.98 and a beta of 2.37.
AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. AppLovin's quarterly revenue was up 58.9% compared to the same quarter last year. Sell-side analysts predict that AppLovin Corporation will post 15.86 EPS for the current fiscal year.
Institutional Investors Weigh In On AppLovin
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AppLovin by 0.7% during the fourth 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 in the last quarter. State Street Corp raised its holdings in AppLovin by 0.4% during 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 in the last quarter. Geode Capital Management LLC raised its holdings in AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company's stock worth $4,817,269,000 after purchasing an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company's stock worth $4,103,386,000 after purchasing an additional 212,349 shares in the last quarter. 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 worth $3,747,551,000 after purchasing an additional 538,806 shares in the last quarter. Institutional investors own 41.85% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on APP shares. Scotiabank lifted their target price on AppLovin from $750.00 to $775.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Arete Research set a $340.00 price target on AppLovin and gave the company a "neutral" rating in a report on Monday, March 2nd. BTIG Research reaffirmed a "buy" rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Jefferies Financial Group cut their price target on AppLovin from $860.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. Finally, Evercore reaffirmed a "buy" rating on shares of AppLovin in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $664.35.
View Our Latest Research Report on AppLovin
Key Stories Impacting AppLovin
Here are the key news stories impacting AppLovin this week:
About AppLovin
(
Get Free Report)
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.
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