Dawson Alyssa Harvey Sells 4,371 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 4,371 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $75.65, for a total transaction of $330,666.15. Following the sale, the director now directly owns 11,565 shares in the company, valued at approximately $874,892.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AppLovin Trading Up 3.0 %

Shares of APP opened at $80.84 on Thursday. AppLovin Co. has a twelve month low of $22.85 and a twelve month high of $88.50. The firm has a market capitalization of $26.60 billion, a P/E ratio of 48.12, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The stock’s fifty day simple moving average is $77.90 and its 200 day simple moving average is $60.84.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $973.70 million. During the same period last year, the business posted ($0.01) EPS. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities research analysts forecast that AppLovin Co. will post 2.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and issued a $97.00 price target on shares of AppLovin in a report on Thursday, June 13th. The Goldman Sachs Group raised their price target on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Citigroup boosted their price objective on shares of AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Wedbush raised their target price on shares of AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.72.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of the business. American Trust lifted its holdings in shares of AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after acquiring an additional 150 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of AppLovin by 4,123.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 128,222 shares of the company’s stock worth $8,726,000 after purchasing an additional 125,186 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of AppLovin in the first quarter worth about $675,000. Invst LLC acquired a new stake in shares of AppLovin in the first quarter valued at about $226,000. Finally, Swedbank AB purchased a new stake in shares of AppLovin during the 1st quarter valued at about $870,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.