AppLovin (NASDAQ:APP) Trading Down 2% – Should You Sell?

by · The Cerbat Gem

AppLovin Corporation (NASDAQ:APPGet Free Report) dropped 2% during mid-day trading on Thursday . The stock traded as low as $514.35 and last traded at $521.94. Approximately 5,633,078 shares traded hands during trading, an increase of 5% from the average daily volume of 5,354,250 shares. The stock had previously closed at $532.56.

Analyst Ratings Changes

APP has been the subject of a number of research analyst reports. UBS Group set a $800.00 price target on AppLovin in a report on Tuesday, January 13th. The Goldman Sachs Group boosted their target price on shares of AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Zacks Research raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Scotiabank boosted their price objective on shares of AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $706.76.

Check Out Our Latest Research Report on APP

AppLovin Trading Down 2.0%

The firm’s fifty day moving average price is $636.14 and its 200-day moving average price is $558.35. The company has a market cap of $176.39 billion, a price-to-earnings ratio of 63.34, a P/E/G ratio of 1.87 and a beta of 2.50. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25.

AppLovin (NASDAQ:APPGet Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business’s revenue for the quarter was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. On average, equities analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 4,069 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $497.50, for a total value of $2,024,327.50. Following the completion of the transaction, the chief executive officer owned 2,998,948 shares in the company, valued at $1,491,976,630. This represents a 0.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 27,143 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the transaction, the chief technology officer directly owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 340,336 shares of company stock worth $200,062,623 over the last 90 days. Insiders own 13.66% of the company’s stock.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently modified their holdings of the company. Hilltop National Bank acquired a new stake in AppLovin during the 2nd quarter worth about $26,000. LFA Lugano Financial Advisors SA purchased a new position in shares of AppLovin in the second quarter worth approximately $26,000. Board of the Pension Protection Fund purchased a new position in shares of AppLovin in the fourth quarter worth approximately $27,000. Chilton Capital Management LLC acquired a new stake in shares of AppLovin during the third quarter valued at approximately $29,000. Finally, Activest Wealth Management lifted its position in shares of AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

(Get Free Report)

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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