Key Points
- Director Eduardo Vivas sold 163,910 shares of AppLovin on June 16 at an average price of $504.06, totaling about $82.6 million. After the sale, he still held 6,785,087 shares, a 2.36% reduction in his position.
- AppLovin recently posted strong quarterly results, beating analyst expectations with EPS of $3.56 on revenue of $1.84 billion. Revenue jumped 58.9% year over year, and the company reported a high net margin of 64.29%.
- Wall Street remains generally bullish on the stock, with an average analyst rating of “Moderate Buy” and a consensus price target of $669.62. Institutional ownership is also significant, with hedge funds and large investors holding 41.85% of shares.
AppLovin Corporation (NASDAQ:APP - Get Free Report) Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
AppLovin Price Performance
Shares of AppLovin stock opened at $469.71 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a fifty day simple moving average of $490.66 and a 200-day simple moving average of $518.14. The stock has a market capitalization of $157.79 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 0.78 and a beta of 2.45. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61.
AppLovin (NASDAQ:APP - Get Free Report) last posted its 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 business had revenue of $1.84 billion for 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%. AppLovin's revenue was up 58.9% compared to the same quarter last year. During the same period last year, the business posted $1.67 EPS. On average, sell-side analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current year.
Analyst Ratings Changes
APP has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on AppLovin from $560.00 to $571.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. UBS Group cut their price objective on AppLovin from $740.00 to $716.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. BTIG Research restated a "buy" rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Arete Research set a $340.00 target price on AppLovin and gave the company 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 issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus target price of $669.62.
Get Our Latest Research Report on AppLovin
Institutional Investors Weigh In On AppLovin
A number of institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company's stock valued at $8,516,471,000 after buying an additional 6,237,051 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of AppLovin by 3,118.6% during the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company's stock worth $2,826,049,000 after acquiring an additional 4,063,763 shares during the period. Norges Bank acquired a new stake in shares of AppLovin during the 4th quarter valued at about $2,040,321,000. Capital Research Global Investors acquired a new stake in shares of AppLovin during the 3rd quarter valued at about $743,899,000. Finally, Northern Trust Corp increased its stake in AppLovin by 46.8% in the third quarter. Northern Trust Corp now owns 2,374,460 shares of the company's stock valued at $1,706,144,000 after acquiring an additional 756,660 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.
AppLovin Company Profile
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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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