AppLovin (NASDAQ:APP) Shares Down 3%

AppLovin Co. (NASDAQ:APP) shares were down 3% during trading on Monday . The company traded as low as $83.89 and last traded at $84.21. Approximately 322,827 shares changed hands during trading, a decline of 92% from the average daily volume of 4,276,375 shares. The stock had previously closed at $86.80.

Analysts Set New Price Targets

A number of research analysts have recently commented on APP shares. BTIG Research upped their target price on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group upped their target price on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Daiwa Capital Markets started coverage on AppLovin in a research note on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $97.00 target price on shares of AppLovin in a research note on Thursday, June 13th. Finally, The Goldman Sachs Group upped their target price on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.72.

AppLovin Price Performance

The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The firm has a market cap of $27.99 billion, a P/E ratio of 52.32, a PEG ratio of 1.47 and a beta of 1.86. The firm has a 50-day simple moving average of $80.69 and a 200-day simple moving average of $64.85.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. As a group, analysts forecast that AppLovin Co. will post 2.96 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Craig Scott Billings sold 5,620 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the completion of the sale, the director now owns 1,780 shares in the company, valued at approximately $151,246.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Craig Scott Billings sold 5,620 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the completion of the sale, the director now owns 1,780 shares in the company, valued at approximately $151,246.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 147,984 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $82.29, for a total value of $12,177,603.36. Following the sale, the chief marketing officer now owns 1,264,284 shares of the company’s stock, valued at approximately $104,037,930.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,738,887 shares of company stock valued at $1,478,466,735. 14.69% of the stock is currently owned by corporate insiders.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC purchased a new position in AppLovin in the 4th quarter worth $32,000. Covestor Ltd raised its stake in AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in AppLovin in the 2nd quarter worth $37,000. Atlas Capital Advisors LLC purchased a new position in AppLovin in the 1st quarter worth $38,000. Finally, ORG Partners LLC raised its stake in AppLovin by 212.0% in the 1st quarter. ORG Partners LLC now owns 624 shares of the company’s stock worth $43,000 after acquiring an additional 424 shares during the last quarter. Hedge funds and other 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.