AppLovin (NASDAQ:APP) Stock Price Down 0.2% – Here’s Why

AppLovin Co. (NASDAQ:APP)’s share price was down 0.2% during mid-day trading on Thursday . The stock traded as low as $317.36 and last traded at $329.20. Approximately 3,918,558 shares traded hands during trading, a decline of 18% from the average daily volume of 4,750,255 shares. The stock had previously closed at $330.01.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on APP shares. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Jefferies Financial Group lifted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $337.71.

AppLovin Trading Down 3.3 %

The firm has a market cap of $106.88 billion, a PE ratio of 96.51, a P/E/G ratio of 4.17 and a beta of 2.29. The company’s fifty day moving average price is $318.41 and its two-hundred day moving average price is $179.76. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. As a group, sell-side analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently modified their holdings of APP. TD Asset Management Inc raised its position in shares of AppLovin by 6.1% in the second quarter. TD Asset Management Inc now owns 13,735 shares of the company’s stock valued at $1,143,000 after buying an additional 793 shares during the last quarter. National Bank of Canada FI raised its position in shares of AppLovin by 77.2% in the second quarter. National Bank of Canada FI now owns 964 shares of the company’s stock valued at $82,000 after buying an additional 420 shares during the last quarter. Private Advisor Group LLC raised its position in shares of AppLovin by 98.6% in the second quarter. Private Advisor Group LLC now owns 7,144 shares of the company’s stock valued at $595,000 after buying an additional 3,547 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of AppLovin by 21.1% in the second quarter. Acadian Asset Management LLC now owns 19,781 shares of the company’s stock valued at $1,642,000 after buying an additional 3,442 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of AppLovin in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.