AppLovin Corporation (NASDAQ:APP – Get Free Report) insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the transaction, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
AppLovin Price Performance
Shares of NASDAQ:APP traded up $6.49 during trading on Monday, hitting $563.69. 3,885,432 shares of the company were exchanged, compared to its average volume of 5,489,489. The company has a market capitalization of $189.37 billion, a P/E ratio of 48.43, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The business’s 50 day moving average is $470.43 and its 200-day moving average is $521.30. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.
AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 earnings per share. Equities analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.
Institutional Trading of AppLovin
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on APP shares. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. BTIG Research restated a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Wedbush restated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. The Goldman Sachs Group decreased their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Finally, Wells Fargo & Company increased their price objective on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.
Read Our Latest Analysis on AppLovin
AppLovin Company Profile
AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.
Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.
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