Victoria Valenzuela Sells 2,890 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the transaction, the insider now owns 448,490 shares in the company, valued at $36,493,631.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Victoria Valenzuela also recently made the following trade(s):

• On Thursday, April 4th, Victoria Valenzuela sold 50,000 shares of AppLovin stock. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00.

AppLovin Trading Up 3.6 %

Shares of NASDAQ APP traded up $2.89 during trading on Friday, hitting $82.15. 5,050,495 shares of the company traded hands, compared to its average volume of 4,257,357. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The firm has a market capitalization of $27.03 billion, a P/E ratio of 48.90, a P/E/G ratio of 1.35 and a beta of 1.85. The company has a 50-day moving average price of $74.34 and a 200-day moving average price of $55.41. AppLovin Co. has a 1 year low of $21.03 and a 1 year high of $88.50.

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

Analysts Set New Price Targets

APP has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. UBS Group lifted their price objective on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Oppenheimer increased their target price on AppLovin from $85.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Daiwa Capital Markets began coverage on AppLovin in a report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.72.

Hedge Funds Weigh In On AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of APP. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of AppLovin during the third quarter worth about $237,000. Allspring Global Investments Holdings LLC raised its position in shares of AppLovin by 14,263.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,970 shares of the company’s stock valued at $838,000 after purchasing an additional 20,824 shares in the last quarter. Capula Management Ltd purchased a new position in shares of AppLovin during the 3rd quarter valued at approximately $258,000. Ieq Capital LLC grew its position in shares of AppLovin by 7.7% during the third quarter. Ieq Capital LLC now owns 26,412 shares of the company’s stock worth $1,055,000 after buying an additional 1,889 shares in the last quarter. Finally, Black Swift Group LLC bought a new stake in shares of AppLovin in the third quarter worth $999,000. 41.85% of the stock is owned by institutional investors and hedge funds.

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.