Katie Kihorany Jansen Sells 59,876 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AppLovin Stock Performance

Shares of APP stock traded up $0.53 during trading hours on Thursday, hitting $284.49. The stock had a trading volume of 7,159,306 shares, compared to its average volume of 4,312,054. The stock’s 50 day moving average is $151.08 and its 200 day moving average is $105.82. The firm has a market capitalization of $95.09 billion, a PE ratio of 86.05, a PEG ratio of 3.56 and a beta of 1.86. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $302.55. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $0.30 EPS. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APP. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Citigroup raised their price target on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. BTIG Research boosted their price objective on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $194.31.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. boosted its holdings in shares of AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares in the last quarter. HM Payson & Co. raised its stake in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in shares of AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares in the last quarter. Ashton Thomas Securities LLC lifted its holdings in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares during the period. Finally, GAMMA Investing LLC grew its holdings in AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Company Profile

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.