AppLovin Co. (NASDAQ:APP) Director Mary Margaret Hasti Georgiadis Sells 30,500 Shares

AppLovin Co. (NASDAQ:APP) Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $339.69, for a total transaction of $10,360,545.00. Following the transaction, the director now directly owns 154,500 shares in the company, valued at $52,482,105. The trade was a 16.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $366.55 on Wednesday. The company has a 50 day moving average of $206.20 and a 200 day moving average of $128.10. The stock has a market cap of $123.01 billion, a P/E ratio of 111.08, a P/E/G ratio of 4.20 and a beta of 2.28. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $372.57. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during 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%. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. As a group, sell-side analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI lifted its holdings in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares during the last quarter. HM Payson & Co. lifted its holdings in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after acquiring an additional 104 shares during the last quarter. Finally, 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 worth $626,000 after acquiring an additional 121 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on APP shares. Jefferies Financial Group raised their price target on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Citigroup raised their price objective on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Wedbush restated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Loop Capital raised their price objective on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $265.57.

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.