AppLovin (NASDAQ:APP) Shares Down 0.5% – Here’s What Happened

AppLovin Co. (NASDAQ:APP)’s stock price was down 0.5% during trading on Wednesday . The stock traded as low as $352.22 and last traded at $359.08. Approximately 710,963 shares changed hands during trading, a decline of 82% from the average daily volume of 3,999,593 shares. The stock had previously closed at $360.75.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Macquarie lifted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Stifel Nicolaus increased their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Citigroup raised their price target on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Four equities research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $366.29.

AppLovin Stock Up 1.1 %

The company has a market cap of $124.03 billion, a P/E ratio of 112.00, a price-to-earnings-growth ratio of 2.97 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a fifty day moving average of $340.85 and a 200 day moving average of $205.26.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.30 EPS. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, research analysts anticipate that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This represents a 6.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in AppLovin in the 3rd quarter valued at $25,000. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin during the fourth quarter valued at about $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin in the third quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin in the third quarter worth about $27,000. Finally, Raleigh Capital Management Inc. bought a new position in AppLovin during the third quarter valued at approximately $29,000. Institutional investors own 41.85% of the company’s stock.

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.