AppLovin (NASDAQ:APP) Shares Down 6.2% – Time to Sell?

by · The Cerbat Gem

Shares of AppLovin Co. (NASDAQ:APP – Get Free Report) traded down 6.2% during trading on Monday . The company traded as low as $263.26 and last traded at $272.11. 3,502,619 shares traded hands during trading, a decline of 18% from the average session volume of 4,257,461 shares. The stock had previously closed at $290.01.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on APP shares. Loop Capital upped their price objective on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and raised their price target for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Wells Fargo & Company initiated coverage on AppLovin in a report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price objective for the company. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Stifel Nicolaus raised their price objective on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $194.31.

Check Out Our Latest Stock Report on APP

AppLovin Stock Down 1.8 %

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 stock’s 50-day moving average price is $147.16 and its 200-day moving average price is $104.56. The company has a market cap of $94.91 billion, a P/E ratio of 85.84, a PEG ratio of 3.56 and a beta of 1.86.

AppLovin (NASDAQ:APP – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, research analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares of the company’s stock, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,866 shares of company stock valued at $34,670,777. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in shares of AppLovin during the 3rd quarter valued at $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the 3rd quarter worth $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin in the 3rd quarter worth about $29,000. Finally, Quest Partners LLC purchased a new stake in AppLovin in the 2nd quarter worth about $33,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

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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