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

Shares of AppLovin Co. (NASDAQ:APP) dropped 2.8% during mid-day 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 were traded during 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 business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several research analysts have commented on APP shares. Benchmark upped their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Stifel Nicolaus increased their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 price target (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Trading Down 2.5 %

The stock has a market capitalization of $90.39 billion, a PE ratio of 58.35, a P/E/G ratio of 3.02 and a beta of 2.33. 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 stock has a 50 day moving average price of $359.55 and a 200-day moving average price of $265.25.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of AppLovin during the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. lifted its stake in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after buying an additional 4,010,520 shares in the last quarter. Norges Bank bought a new position in AppLovin in the 4th quarter worth $828,138,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after buying an additional 2,373,885 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.