AppLovin (NASDAQ:APP) Trading Down 0.9% – Here’s What Happened

AppLovin Co. (NASDAQ:APP) shares traded down 0.9% during mid-day trading on Wednesday . The stock traded as low as $341.31 and last traded at $341.83. 1,312,432 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 4,617,379 shares. The stock had previously closed at $344.82.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on APP shares. Loop Capital boosted their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. BTIG Research increased their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Stifel Nicolaus increased their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Citigroup raised their target price on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.71.

AppLovin Price Performance

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s 50-day simple moving average is $280.68 and its two-hundred day simple moving average is $160.24. The firm has a market cap of $116.36 billion, a price-to-earnings ratio of 105.07, a P/E/G ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 earnings per share. As a group, research analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in AppLovin during the third quarter worth about $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the third quarter worth $27,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin in the 3rd quarter worth approximately $29,000. Finally, HM Payson & Co. grew its position in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

About AppLovin

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.