AppLovin Co. (NASDAQ:APP) CTO Sells $189,574,199.56 in Stock

AppLovin Co. (NASDAQ:APP) CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Vasily Shikin also recently made the following trade(s):

• On Monday, September 9th, Vasily Shikin sold 5,500 shares of AppLovin stock. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00.
• On Friday, September 6th, Vasily Shikin sold 154,500 shares of AppLovin stock. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00.

AppLovin Stock Performance

NASDAQ APP traded up $15.07 during trading hours on Friday, hitting $333.31. The company had a trading volume of 6,872,106 shares, compared to its average volume of 4,452,786. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $111.86 billion, a P/E ratio of 101.00, a price-to-earnings-growth ratio of 3.95 and a beta of 1.86. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $342.51. The business has a fifty day simple moving average of $181.30 and a 200-day simple moving average of $117.13.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS. Equities analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APP shares. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and increased their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Macquarie upped their price target on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.96.

Hedge Funds Weigh In On AppLovin

Several hedge funds and other institutional investors have recently made changes to their positions in APP. Second Half Financial Partners LLC acquired a new position in shares of AppLovin during the third quarter valued at approximately $224,000. Eagle Asset Management Inc. increased its position in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares during the period. WCM Investment Management LLC raised its stake in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of AppLovin by 10.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock valued at $3,440,000 after buying an additional 2,385 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after buying an additional 15,590 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.