Katie Kihorany Jansen Sells 50,000 Shares of AppLovin Co. (NYSE:APP) Stock

AppLovin Co. (NYSE:APP) CMO Katie Kihorany Jansen sold 50,000 shares of AppLovin stock in a transaction on Friday, August 20th. The stock was sold at an average price of $69.50, for a total transaction of $3,475,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Katie Kihorany Jansen also recently made the following trade(s):

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On Monday, August 23rd, Katie Kihorany Jansen sold 1,930 shares of AppLovin stock. The stock was sold at an average price of $72.00, for a total transaction of $138,960.00.

Shares of APP opened at $73.57 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average price is $67.77. AppLovin Co. has a 1 year low of $49.41 and a 1 year high of $90.03.

AppLovin (NYSE:APP) last announced its quarterly earnings data on Tuesday, August 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). On average, equities analysts predict that AppLovin Co. will post 0.29 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in AppLovin during the second quarter worth approximately $290,000. Marshall Wace North America L.P. acquired a new position in AppLovin during the second quarter worth approximately $29,269,000. Morgan Stanley acquired a new position in AppLovin during the second quarter worth approximately $826,000. Thrivent Financial for Lutherans acquired a new position in AppLovin during the second quarter worth approximately $68,234,000. Finally, Blackstone Inc acquired a new position in AppLovin during the second quarter worth approximately $11,276,000. 0.16% of the stock is owned by hedge funds and other institutional investors.

APP has been the topic of several research analyst reports. William Blair initiated coverage on shares of AppLovin in a research note on Monday, May 10th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday, May 17th. Truist assumed coverage on shares of AppLovin in a research note on Monday, May 10th. They issued a “buy” rating and a $76.00 price objective on the stock. Credit Suisse Group assumed coverage on shares of AppLovin in a research note on Monday, May 10th. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, Bank of America began coverage on shares of AppLovin in a research note on Monday, May 10th. They issued a “buy” rating and a $75.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $75.00.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps worldwide. The company's software solutions include AppDiscovery, a solution to automate, optimize, and manage user acquisition investments for business clients; and MAX, an in-app bidding solution that optimizes purchases of app ad inventory.

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