AppLovin (NASDAQ:APP) Stock Price Down 1.9% – Here’s What Happened

AppLovin Co. (NASDAQ:APP) shares were down 1.9% on Monday . The company traded as low as $331.54 and last traded at $334.57. Approximately 868,327 shares changed hands during trading, a decline of 81% from the average daily volume of 4,623,908 shares. The stock had previously closed at $340.99.

Analyst Ratings Changes

A number of analysts have commented on the stock. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Macquarie upped their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Benchmark reiterated a “sell” rating and set a $66.00 price target on shares of AppLovin in a report on Thursday, November 7th. Citigroup upped their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price target for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.71.

AppLovin Trading Up 0.2 %

The business’s fifty day moving average price is $264.72 and its 200 day moving average price is $153.98. 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 firm has a market capitalization of $114.61 billion, a PE ratio of 103.49, a P/E/G ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP) last released its 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. The firm 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 was up 38.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. As a group, analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 872,896 shares of company stock worth $279,773,021. Company insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of hedge funds have recently modified their holdings of APP. Capital Performance Advisors LLP purchased a new position in shares of AppLovin during the 3rd quarter valued at $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the third quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin during the third quarter valued at approximately $29,000. Finally, Quest Partners LLC bought a new stake in AppLovin in the second quarter worth approximately $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.