AppLovin (NASDAQ:APP) Stock Price Down 9.8% – Should You Sell?

Shares of AppLovin Co. (NASDAQ:APP) were down 9.8% during trading on Tuesday . The company traded as low as $285.36 and last traded at $276.93. Approximately 3,239,775 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 5,197,085 shares. The stock had previously closed at $306.85.

Wall Street Analyst Weigh In

APP has been the subject of several recent research reports. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Jefferies Financial Group upped their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Monday. Benchmark boosted their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus increased their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Stock Up 6.5 %

The firm has a market cap of $100.98 billion, a P/E ratio of 65.43, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm’s fifty day moving average is $354.37 and its 200 day moving average is $272.20.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

Several hedge funds have recently bought and sold shares of APP. JFS Wealth Advisors LLC boosted its position in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after purchasing an additional 33 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after buying an additional 33 shares in the last quarter. Finally, Truvestments Capital LLC lifted its position in shares of AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after buying an additional 38 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

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.