AppLovin (NASDAQ:APP) Shares Down 0.4% – What’s Next?

AppLovin Co. (NASDAQ:APP)’s share price fell 0.4% during mid-day trading on Wednesday . The company traded as low as $326.00 and last traded at $328.67. 1,431,341 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 4,223,928 shares. The stock had previously closed at $330.01.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Oppenheimer restated an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Benchmark restated a “sell” rating and set a $66.00 target price on shares of AppLovin in a research note on Thursday, November 7th. Finally, Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $312.18.

AppLovin Stock Performance

The firm has a market capitalization of $110.65 billion, a P/E ratio of 99.92, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The company has a 50-day moving average of $308.96 and a 200-day moving average of $175.97. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 38.6% compared to the same quarter last year. On average, equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppLovin

Institutional investors have recently modified their holdings of the company. TD Asset Management Inc boosted its stake in AppLovin by 6.1% during the 2nd quarter. TD Asset Management Inc now owns 13,735 shares of the company’s stock valued at $1,143,000 after purchasing an additional 793 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of AppLovin by 77.2% in the second quarter. National Bank of Canada FI now owns 964 shares of the company’s stock valued at $82,000 after purchasing an additional 420 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of AppLovin by 98.6% during the second quarter. Private Advisor Group LLC now owns 7,144 shares of the company’s stock valued at $595,000 after purchasing an additional 3,547 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in AppLovin by 10.3% during the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock worth $184,000 after purchasing an additional 205 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in AppLovin by 21.1% in the 2nd quarter. Acadian Asset Management LLC now owns 19,781 shares of the company’s stock worth $1,642,000 after purchasing an additional 3,442 shares in 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.