AppLovin (NASDAQ:APP) Shares Down 1.9% Following Insider Selling

AppLovin Co. (NASDAQ:APP)’s stock price fell 1.9% during mid-day trading on Monday following insider selling activity. The stock traded as low as $331.54 and last traded at $334.57. 868,327 shares changed hands during trading, a decline of 81% from the average session volume of 4,623,908 shares. The stock had previously closed at $340.99.

Specifically, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America upped their price target on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Loop Capital boosted their price objective on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $310.71.

AppLovin Price Performance

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 company has a market cap of $114.72 billion, a price-to-earnings ratio of 103.59, a PEG ratio of 4.17 and a beta of 2.28. The business has a fifty day moving average price of $272.67 and a 200 day moving average price of $157.65.

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

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in APP. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter valued at about $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC acquired a new stake in AppLovin during the 2nd quarter worth approximately $33,000. Institutional investors own 41.85% of the company’s stock.

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.