AppLovin (NASDAQ:APP) Shares Down 3.5% – What’s Next?

by · The Cerbat Gem

AppLovin Co. (NASDAQ:APP – Get Free Report) dropped 3.5% on Friday . The stock traded as low as $427.80 and last traded at $434.23. Approximately 2,384,028 shares traded hands during trading, a decline of 54% from the average daily volume of 5,159,058 shares. The stock had previously closed at $450.01.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APP. JPMorgan Chase & Co. upped their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Benchmark raised their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Bank of America boosted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Piper Sandler lifted their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $442.18.

View Our Latest Research Report on AppLovin

AppLovin Trading Down 7.5 %

The firm’s 50 day simple moving average is $363.77 and its two-hundred day simple moving average is $240.83. The stock has a market capitalization of $139.62 billion, a P/E ratio of 91.64, a P/E/G ratio of 3.60 and a beta of 2.30. 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 – Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating 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, analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,302 shares of company stock valued at $65,305,354 over the last ninety days. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin during the fourth quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the fourth quarter valued at about $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter worth about $27,000. Finally, Meeder Asset Management Inc. bought a new stake in AppLovin in the third quarter worth about $27,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

(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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