AppLovin (NASDAQ:APP) Shares Down 0.9% – Time to Sell?

AppLovin Co. (NASDAQ:APP) traded down 0.9% during trading on Wednesday . The stock traded as low as $341.31 and last traded at $341.83. 1,312,432 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 4,617,379 shares. The stock had previously closed at $344.82.

Wall Street Analysts Forecast Growth

APP has been the subject of several analyst reports. Benchmark reissued a “sell” rating and set a $66.00 price target on shares of AppLovin in a research report on Thursday, November 7th. Jefferies Financial Group boosted their price target on AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.71.

AppLovin Price Performance

The firm has a 50 day moving average of $280.68 and a two-hundred day moving average of $160.24. The company has a market cap of $116.36 billion, a PE ratio of 105.07, a P/E/G ratio of 4.17 and a beta of 2.28. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

Insider Transactions at AppLovin

In other AppLovin 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 transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in AppLovin by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 964,068 shares of the company’s stock valued at $80,230,000 after buying an additional 111,718 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in AppLovin by 17.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,195 shares of the company’s stock valued at $1,431,000 after acquiring an additional 2,566 shares during the last quarter. Strategic Blueprint LLC purchased a new stake in AppLovin in the 2nd quarter worth $229,000. Burney Co. bought a new position in shares of AppLovin during the 2nd quarter valued at about $338,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of AppLovin by 38.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,019 shares of the company’s stock valued at $3,081,000 after purchasing an additional 10,306 shares during the last quarter. Hedge funds and other institutional investors 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.