AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey Sells 513 Shares

AppLovin Co. (NASDAQ:APP) Director Dawson Alyssa Harvey sold 513 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the sale, the director now owns 3,451 shares in the company, valued at $1,450,455.30. This represents a 12.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Dawson Alyssa Harvey also recently made the following trade(s):

• On Thursday, June 5th, Dawson Alyssa Harvey sold 2,987 shares of AppLovin stock. The shares were sold at an average price of $413.98, for a total transaction of $1,236,558.26.
• On Tuesday, May 13th, Dawson Alyssa Harvey sold 570 shares of AppLovin stock. The stock was sold at an average price of $371.12, for a total transaction of $211,538.40.

AppLovin Trading Up 0.9%

Shares of NASDAQ APP opened at $417.89 on Monday. The stock has a market capitalization of $141.41 billion, a P/E ratio of 92.05, a PEG ratio of 3.02 and a beta of 2.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business’s 50 day moving average is $311.16 and its two-hundred day moving average is $332.43. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

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

Analysts Set New Price Targets

APP has been the topic of a number of research reports. Bank of America boosted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. HSBC set a $436.00 target price on AppLovin and gave the company a “buy” rating in a report on Wednesday, April 23rd. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Wednesday, May 28th. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. Finally, Piper Sandler increased their target price on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $436.10.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the 4th quarter worth $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the fourth quarter valued at approximately $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin in the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin during the 1st quarter worth about $27,000. Finally, Riverview Trust Co grew its holdings in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after acquiring an additional 82 shares during the period. 41.85% of the stock is owned by institutional investors.

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.