AppLovin Co. (NYSE:APP) Insider Victoria Valenzuela Sells 27,576 Shares

Posted by Defense World Staff on Aug 23rd, 2023

AppLovin Co. (NYSE:APP – Get Free Report) insider Victoria Valenzuela sold 27,576 shares of AppLovin stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $39.72, for a total value of $1,095,318.72. Following the sale, the insider now directly owns 570,630 shares of the company’s stock, valued at $22,665,423.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

On Thursday, July 27th, Victoria Valenzuela sold 25,000 shares of AppLovin stock. The stock was sold at an average price of $30.94, for a total value of $773,500.00.

AppLovin Price Performance

Shares of NYSE:APP opened at $39.48 on Wednesday. AppLovin Co. has a one year low of $9.14 and a one year high of $40.69. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.87 and a quick ratio of 2.87. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 658.11, a PEG ratio of 2.59 and a beta of 1.95. The firm has a 50 day simple moving average of $29.40 and a 200 day simple moving average of $21.58.

AppLovin (NYSE:APP – Get Free Report) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.14. AppLovin had a net margin of 0.70% and a return on equity of 5.51%. The company had revenue of $750.17 million during the quarter, compared to the consensus estimate of $724.41 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Research analysts predict that AppLovin Co. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APP has been the topic of several research reports. Wedbush upped their price target on shares of AppLovin from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. Citigroup raised their target price on shares of AppLovin from $32.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. JPMorgan Chase & Co. boosted their price target on AppLovin from $21.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th. Benchmark raised their price objective on AppLovin from $14.00 to $17.00 and gave the stock a “sell” rating in a research note on Tuesday, August 8th. Finally, BTIG Research upped their target price on AppLovin from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.88.

Check Out Our Latest Stock Report on AppLovin

Institutional Trading of AppLovin

Hedge funds have recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of AppLovin in the first quarter valued at approximately $217,358,000. State Street Corp grew its holdings in AppLovin by 1,194.0% during the 2nd quarter. State Street Corp now owns 3,040,806 shares of the company’s stock worth $104,725,000 after acquiring an additional 2,805,820 shares during the last quarter. AQR Capital Management LLC increased its position in AppLovin by 425.7% in the 4th quarter. AQR Capital Management LLC now owns 3,134,934 shares of the company’s stock valued at $32,917,000 after acquiring an additional 2,538,618 shares during the period. Norges Bank acquired a new position in AppLovin in the 4th quarter valued at approximately $22,402,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of AppLovin by 1,457.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,173,539 shares of the company’s stock worth $22,887,000 after purchasing an additional 2,033,939 shares during the period. 45.47% of the stock is owned by institutional investors and hedge funds.

About AppLovin

(Get Free Report)

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies.