AppLovin Co. (NASDAQ:APP) CMO Sells $1,007,772.55 in Stock

AppLovin Co. (NASDAQ:APP) CMO Katie Kihorany Jansen sold 12,755 shares of AppLovin stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $79.01, for a total value of $1,007,772.55. Following the completion of the sale, the chief marketing officer now owns 1,236,703 shares in the company, valued at approximately $97,711,904.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Katie Kihorany Jansen also recently made the following trade(s):

• On Thursday, May 9th, Katie Kihorany Jansen sold 147,984 shares of AppLovin stock. The shares were sold at an average price of $82.29, for a total value of $12,177,603.36.

AppLovin Stock Up 3.6 %

Shares of APP traded up $2.89 during mid-day trading on Friday, reaching $82.15. The company’s stock had a trading volume of 5,051,632 shares, compared to its average volume of 4,940,256. AppLovin Co. has a 12-month low of $21.03 and a 12-month high of $88.50. The stock has a market cap of $27.03 billion, a PE ratio of 48.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.85. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. The company’s 50 day moving average is $74.72 and its 200 day moving average is $55.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) EPS. Equities analysts anticipate that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group boosted their price objective on AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Morgan Stanley increased their target price on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Wedbush increased their target price on AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. BTIG Research increased their target price on AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Citigroup increased their target price on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $71.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of AppLovin by 16.3% in the 4th quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after buying an additional 401 shares during the period. Quantbot Technologies LP raised its holdings in AppLovin by 143.1% during the third quarter. Quantbot Technologies LP now owns 116,917 shares of the company’s stock worth $4,672,000 after purchasing an additional 68,822 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in AppLovin by 4,805.9% during the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after purchasing an additional 1,374,066 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in AppLovin during the fourth quarter worth $2,284,000. Finally, Black Swift Group LLC acquired a new position in AppLovin during the third quarter worth $999,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.