AppLovin Co. (NASDAQ:APP) Director Craig Scott Billings Sells 12,000 Shares of Stock

AppLovin Co. (NASDAQ:APP) Director Craig Scott Billings sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total value of $4,237,440.00. Following the sale, the director now directly owns 2,987 shares in the company, valued at approximately $1,054,769.44. This represents a 80.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $376.54 on Thursday. 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 Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The stock has a 50 day moving average of $280.48 and a 200-day moving average of $314.77. The company has a market capitalization of $128.01 billion, a P/E ratio of 82.94, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $0.67 EPS. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on APP. The Goldman Sachs Group raised their price target on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. UBS Group lifted their target price on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Citigroup lifted their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Bank of America lifted their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $433.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APP. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the 4th quarter worth approximately $25,000. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the 4th quarter worth approximately $25,000. Atala Financial Inc acquired a new stake in AppLovin during the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin during the 1st quarter worth approximately $27,000. Finally, Riverview Trust Co lifted its holdings in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the last quarter. 41.85% of the stock is currently owned by 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.