Key Points
- AppLovin insider Victoria Valenzuela sold 20,000 shares on June 4 at an average price of $565.89, totaling about $11.32 million. After the sale, she still held 243,961 shares, a 7.58% reduction in her position.
- The company reported strong quarterly results, with EPS of $3.56 and revenue of $1.84 billion, both ahead of analyst expectations. Revenue jumped 58.9% year over year, and the business posted a very high net margin and return on equity.
- Analysts remain broadly positive on APP, with an average “Moderate Buy” rating and an average price target of $664.35. Recent broker updates included several raised or reiterated bullish targets, though there are still some hold and neutral views.
AppLovin Corporation (NASDAQ:APP - Get Free Report) insider Victoria Valenzuela sold 20,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
AppLovin Stock Performance
Shares of NASDAQ APP opened at $563.69 on Tuesday. The firm's 50-day moving average price is $473.88 and its 200-day moving average price is $521.57. 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 company has a market cap of $189.37 billion, a PE ratio of 48.43, a PEG ratio of 0.91 and a beta of 2.45. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61.
AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.67 EPS. As a group, analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current year.
Hedge Funds Weigh In On AppLovin
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Washington Trust Advisors Inc. raised its stake in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock worth $27,000 after acquiring an additional 24 shares during the period. Board of the Pension Protection Fund bought a new stake in AppLovin during the 4th quarter worth approximately $27,000. Mcguire Capital Advisors Inc. bought a new stake in AppLovin during the 4th quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC raised its stake in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock worth $33,000 after acquiring an additional 17 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new stake in AppLovin during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 41.85% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on APP. Wedbush reaffirmed an "outperform" rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Scotiabank raised their price objective on shares of AppLovin from $750.00 to $775.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. UBS Group dropped their price objective on shares of AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company raised their price objective on shares of AppLovin from $560.00 to $571.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Finally, Arete Research set a $340.00 price objective on shares of AppLovin and gave the stock a "neutral" rating in a report on Monday, March 2nd. One equities research analyst has 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $664.35.
Check Out Our Latest Report on APP
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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