Key Points
- AppLovin director Maynard Webb, Jr. sold 3,076 shares on June 5 at an average price of $582.04, totaling about $1.79 million. After the sale, he still held 123,520 shares worth roughly $71.9 million.
- The stock was down 0.3% in trading, opening at $557.20, while AppLovin’s market value stood at about $187.19 billion. The shares have traded between $320.00 and $745.61 over the past 12 months.
- AppLovin recently posted strong quarterly results, with EPS of $3.56 and revenue of $1.84 billion, both above analyst expectations. Revenue rose 58.9% year over year, and Wall Street currently has a Moderate Buy consensus with an average price target of $664.35.
AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Maynard Webb, Jr. sold 3,076 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the transaction, the director directly owned 123,520 shares of the company's stock, valued at $71,893,580.80. This trade represents a 2.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
AppLovin Stock Down 0.3%
APP stock opened at $557.20 on Friday. The stock has a market capitalization of $187.19 billion, a P/E ratio of 47.87, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The firm has a 50-day moving average price of $470.43 and a 200-day moving average price of $521.43.
AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. The business 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 firm's quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the business earned $1.67 EPS. As a group, equities research analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
APP has been the subject of a number of research reports. Weiss Ratings lowered shares of AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 7th. The Goldman Sachs Group dropped their price objective on shares of AppLovin from $710.00 to $585.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. BTIG Research reiterated a "buy" rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company raised their price objective on shares of AppLovin from $560.00 to $571.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $664.35.
Read Our Latest Report on AppLovin
Institutional Trading of AppLovin
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company's stock valued at $4,347,000 after purchasing an additional 3,438 shares during the period. APG Asset Management N.V. acquired a new stake in AppLovin during the 3rd quarter valued at approximately $4,958,000. Metis Global Partners LLC grew its position in shares of AppLovin by 138.3% during the 3rd quarter. Metis Global Partners LLC now owns 10,094 shares of the company's stock worth $7,253,000 after buying an additional 5,859 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of AppLovin by 35.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,831 shares of the company's stock worth $19,998,000 after buying an additional 7,271 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of AppLovin by 24.9% during the 3rd quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company's stock worth $1,754,996,000 after buying an additional 487,492 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.
AppLovin Company Profile
(
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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