AppLovin (NASDAQ:APP) Shares Down 1.2% – What’s Next?

AppLovin Co. (NASDAQ:APP) was down 1.2% during mid-day trading on Friday . The stock traded as low as $332.48 and last traded at $335.40. Approximately 3,091,841 shares traded hands during trading, a decline of 49% from the average daily volume of 6,011,883 shares. The stock had previously closed at $339.51.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Arete Research set a $200.00 target price on shares of AppLovin in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price objective on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research note on Thursday. Oppenheimer restated an “outperform” rating and set a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research note on Thursday. HSBC set a $436.00 price target on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Bank of America increased their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.85.

AppLovin Stock Down 3.2 %

The firm has a 50 day simple moving average of $275.55 and a 200-day simple moving average of $311.59. 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 capitalization of $111.77 billion, a price-to-earnings ratio of 72.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share. On average, sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last three months. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its holdings in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock valued at $41,643,000 after buying an additional 153,248 shares during the period. Chicago Capital LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $323,000. Graypoint LLC bought a new position in shares of AppLovin in the 4th quarter worth $369,000. Brookstone Capital Management acquired a new stake in shares of AppLovin during the fourth quarter worth $290,000. Finally, Wedmont Private Capital increased its holdings in AppLovin by 4.6% in the fourth quarter. Wedmont Private Capital now owns 6,322 shares of the company’s stock valued at $2,013,000 after purchasing an additional 277 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

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.