AppLovin (NASDAQ:APP) Trading Down 3.4% – What’s Next?

AppLovin Co. (NASDAQ:APP) was down 3.4% on Tuesday . The company traded as low as $321.01 and last traded at $324.11. Approximately 844,320 shares traded hands during trading, a decline of 82% from the average daily volume of 4,573,520 shares. The stock had previously closed at $335.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APP. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and raised their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price objective on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. One research 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. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $310.71.

AppLovin Stock Performance

The company has a market cap of $108.68 billion, a P/E ratio of 98.14, a P/E/G ratio of 4.17 and a beta of 2.28. 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 business has a fifty day simple moving average of $288.01 and a two-hundred day simple moving average of $165.04.

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

Insider Transactions at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction dated 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 owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 in the last 90 days. 14.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently bought and sold shares of APP. Cambridge Investment Research Advisors Inc. grew its position in shares of AppLovin by 17.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,195 shares of the company’s stock worth $1,431,000 after purchasing an additional 2,566 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of AppLovin by 894.7% in the second quarter. Principal Financial Group Inc. now owns 179,114 shares of the company’s stock worth $14,906,000 after buying an additional 161,107 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of AppLovin by 43.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,111 shares of the company’s stock worth $592,000 after acquiring an additional 2,161 shares during the last quarter. Signaturefd LLC grew its stake in AppLovin by 9.5% during the second quarter. Signaturefd LLC now owns 2,489 shares of the company’s stock valued at $207,000 after acquiring an additional 215 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in AppLovin in the 2nd quarter valued at $242,000. 41.85% of the stock is owned by 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.