AppLovin (NASDAQ:APP) Stock Price Down 0.6% – Time to Sell?

AppLovin Co. (NASDAQ:APP)’s share price traded down 0.6% during mid-day trading on Thursday . The stock traded as low as $361.27 and last traded at $363.97. 1,737,057 shares were traded during mid-day trading, a decline of 57% from the average session volume of 4,007,993 shares. The stock had previously closed at $366.34.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Loop Capital upped their target price on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Piper Sandler initiated coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target on the stock. Citigroup upped their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, BTIG Research raised their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $366.29.

AppLovin Stock Performance

The stock has a fifty day simple moving average of $341.58 and a 200-day simple moving average of $207.22. The stock has a market cap of $124.03 billion, a P/E ratio of 112.00, a PEG ratio of 2.97 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced 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. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $0.30 EPS. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, equities analysts expect that AppLovin Co. will post 4.09 earnings per share for the current year.

Insider Activity at AppLovin

In related news, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the transaction, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of the business. GHP Investment Advisors Inc. acquired a new position in AppLovin in the 4th quarter valued at about $25,000. Hemington Wealth Management grew its position in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Fifth Third Bancorp lifted its holdings in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Bogart Wealth LLC bought a new stake in AppLovin in the 4th quarter valued at $37,000. Institutional investors own 41.85% of the company’s stock.

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.