AppLovin (NASDAQ:APP) Trading Down 5.4% – Here’s What Happened

Shares of AppLovin Co. (NASDAQ:APP) traded down 5.4% during mid-day trading on Friday . The company traded as low as $308.20 and last traded at $311.31. 1,601,542 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 4,199,219 shares. The stock had previously closed at $329.20.

Analyst Ratings Changes

A number of analysts recently commented on the company. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Wells Fargo & Company upped their price target on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Stifel Nicolaus boosted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $337.71.

AppLovin Trading Down 3.6 %

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a 50-day simple moving average of $315.31 and a two-hundred day simple moving average of $178.09. The firm has a market capitalization of $106.55 billion, a P/E ratio of 96.21, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, equities research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 in the last ninety days. 14.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI raised its holdings in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the period. Versant Capital Management Inc grew its stake in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares during the period. Great Valley Advisor Group Inc. increased its holdings in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares in the last quarter. HM Payson & Co. raised its position in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, Aptus Capital Advisors LLC lifted its holdings in AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other 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.