AppLovin (NASDAQ:APP) Trading Down 2.8% After Insider Selling

AppLovin Co. (NASDAQ:APP) was down 2.8% during trading on Thursday following insider selling activity. The stock traded as low as $260.93 and last traded at $264.90. Approximately 2,241,727 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 5,135,590 shares. The stock had previously closed at $272.59.

Specifically, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several research analysts have recently commented on APP shares. Loop Capital raised their price objective on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Benchmark raised their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Citigroup raised their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler lifted their price target on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Up 7.7 %

The firm has a market cap of $99.57 billion, a PE ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm’s 50-day moving average price is $357.00 and its two-hundred day moving average price is $266.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Institutional Trading of AppLovin

Institutional investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter valued at $27,000. Riverview Trust Co increased its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Finally, Tucker Asset Management LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $28,000. 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.