AppLovin (NASDAQ:APP) Trading Down 0.2% – What’s Next?

AppLovin Co. (NASDAQ:APP) shares fell 0.2% during trading on Thursday . The stock traded as low as $317.36 and last traded at $329.20. 3,918,558 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 4,750,255 shares. The stock had previously closed at $330.01.

Analyst Ratings Changes

Several research firms have issued reports on APP. Wells Fargo & Company raised their price target on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Benchmark restated a “sell” rating and issued a $66.00 price target on shares of AppLovin in a research report on Thursday, November 7th. 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 research report on Tuesday, September 17th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.18.

AppLovin Stock Down 0.2 %

The stock has a market capitalization of $110.48 billion, a P/E ratio of 99.76, a P/E/G ratio of 4.17 and a beta of 2.29. 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 firm’s fifty day moving average is $312.12 and its 200-day moving average is $177.04.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. As a group, equities research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 over the last ninety days. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in APP. WCM Investment Management LLC raised its position in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. FMR LLC raised its position in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares in the last quarter. Lone Pine Capital LLC raised its position in AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares in the last quarter. State Street Corp raised its position in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after acquiring an additional 449,241 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.