Matthew Stumpf Sells 21,101 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the transaction, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at $70,970,487.12. The trade was a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AppLovin Trading Up 4.7 %

Shares of NASDAQ APP opened at $333.31 on Friday. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $342.51. The firm has a market cap of $111.86 billion, a PE ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86. The business has a fifty day simple moving average of $181.30 and a two-hundred day simple moving average of $117.41. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. Analysts expect that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Several hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at $27,000. DT Investment Partners LLC bought a new position in shares of AppLovin in the 3rd quarter worth $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the 3rd quarter worth $29,000. Finally, HM Payson & Co. boosted its position in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of several recent research reports. Stifel Nicolaus lifted their price target on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Benchmark restated a “sell” rating and set a $66.00 price target on shares of AppLovin in a report on Thursday, November 7th. BTIG Research lifted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Bank of America increased their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

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.