AppLovin (NASDAQ:APP) Shares Down 0.2% – Should You Sell?

AppLovin Co. (NASDAQ:APPGet Free Report)’s stock price traded down 0.2% during mid-day trading on Thursday . The company traded as low as $317.36 and last traded at $329.20. 3,918,558 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 4,750,255 shares. The stock had previously closed at $330.01.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APP shares. Piper Sandler initiated coverage on AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target on the stock. Wells Fargo & Company raised their price target on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Loop Capital lifted their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. BTIG Research lifted their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.18.

Get Our Latest Stock Report on APP

AppLovin Price Performance

The company has a 50-day moving average of $312.12 and a 200-day moving average of $177.04. 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 stock has a market capitalization of $110.48 billion, a price-to-earnings ratio of 99.76, a P/E/G ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APPGet Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. As a group, equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the sale, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the sale, the director now owns 2,987 shares in the company, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their position. 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 in the last ninety days. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Large investors have recently added to or reduced their stakes in the business. Townsquare Capital LLC boosted its holdings in AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after buying an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC purchased a new stake in AppLovin in the 3rd quarter worth approximately $224,000. State Street Corp lifted its position in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management raised its holdings in shares of AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Company Profile

(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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