AppLovin (NASDAQ:APP) Trading Down 1% – Here’s What Happened

AppLovin Co. (NASDAQ:APP) traded down 1% during mid-day trading on Monday . The company traded as low as $307.07 and last traded at $315.44. 1,135,261 shares were traded during mid-day trading, a decline of 73% from the average session volume of 4,140,390 shares. The stock had previously closed at $318.48.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APP. Oppenheimer reissued an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. BTIG Research upped their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $338.06.

AppLovin Stock Up 4.3 %

The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market capitalization of $112.43 billion, a PE ratio of 101.52, a PEG ratio of 4.17 and a beta of 2.29. The company’s 50 day simple moving average is $324.66 and its 200-day simple moving average is $184.47.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business earned $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total transaction 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 $952,673.78. This represents a 85.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction dated Tuesday, November 12th. The stock was 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 approximately $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 sold a total of 888,867 shares of company stock valued at $284,773,062 over the last quarter. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter valued at about $25,000. DT Investment Partners LLC purchased a new stake in AppLovin in the third quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin during the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC bought a new position in shares of AppLovin in the 2nd quarter worth approximately $33,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Company Profile

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.