AppLovin (NASDAQ:APP) Trading Down 0.4% – Here’s Why

by · The Cerbat Gem

AppLovin Co. (NASDAQ:APP – Get Free Report)’s stock price dropped 0.4% during mid-day trading on Wednesday . The stock traded as low as $326.00 and last traded at $328.67. Approximately 1,431,341 shares traded hands during trading, a decline of 66% from the average daily volume of 4,223,928 shares. The stock had previously closed at $330.01.

Wall Street Analyst Weigh In

APP has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. BTIG Research boosted their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Bank of America raised their price objective on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Jefferies Financial Group boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Benchmark started coverage on shares of AppLovin in a research note on Friday. They set a “buy” rating and a $375.00 price target for the company. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $337.71.

Get Our Latest Stock Report on APP

AppLovin Stock Performance

The company has a market capitalization of $106.88 billion, a P/E ratio of 96.51, a PEG ratio of 4.17 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company’s 50-day moving average is $318.41 and its two-hundred day moving average is $179.76.

AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. Equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now directly owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 over the last ninety days. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APP. Capital Performance Advisors LLP bought a new stake in AppLovin during the third quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin during the 3rd quarter valued at approximately $29,000. Finally, HM Payson & Co. raised its stake in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

About AppLovin

(Get Free Report)

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.

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