AppLovin (NASDAQ:APP) Trading Down 0.4% – What’s Next?

AppLovin Co. (NASDAQ:APP)’s share price was down 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 were traded during trading, a decline of 66% from the average daily volume of 4,223,928 shares. The stock had previously closed at $330.01.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APP. Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday. Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Bank of America upped their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company raised their target price on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.18.

AppLovin Trading Down 0.1 %

The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $110.65 billion, a P/E ratio of 99.92, a PEG ratio of 4.17 and a beta of 2.29. The firm’s fifty day moving average price is $308.96 and its two-hundred day moving average price is $175.97.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. As a group, equities research analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Craig Scott Billings sold 18,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This represents a 85.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the 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 transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last three months. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Several institutional investors have recently added to or reduced their stakes in APP. Fulton Bank N.A. grew its holdings in shares of AppLovin by 12.1% in the fourth quarter. Fulton Bank N.A. now owns 8,429 shares of the company’s stock worth $2,730,000 after purchasing an additional 908 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of AppLovin in the fourth quarter valued at about $2,237,000. Diversified Trust Co raised its stake in shares of AppLovin by 27.1% during the fourth quarter. Diversified Trust Co now owns 5,034 shares of the company’s stock valued at $1,630,000 after acquiring an additional 1,072 shares during the last quarter. Silverleafe Capital Partners LLC purchased a new stake in shares of AppLovin during the fourth quarter worth about $963,000. Finally, CWA Asset Management Group LLC grew its stake in shares of AppLovin by 26.6% in the fourth quarter. CWA Asset Management Group LLC now owns 16,768 shares of the company’s stock worth $5,430,000 after purchasing an additional 3,520 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other 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.