AppLovin (NASDAQ:APP) Trading Down 8.9% – Time to Sell?

AppLovin Co. (NASDAQ:APP)’s share price was down 8.9% during trading on Thursday . The stock traded as low as $287.03 and last traded at $289.76. Approximately 4,303,958 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 4,936,655 shares. The stock had previously closed at $318.00.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APP. Oppenheimer reissued an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. UBS Group lifted their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Macquarie upped their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $452.29.

AppLovin Stock Down 18.4 %

The firm has a fifty day moving average price of $366.88 and a 200 day moving average price of $259.26. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $87.04 billion, a P/E ratio of 57.13, a PEG ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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%. Equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value 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 trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 406,947 shares of company stock valued at $140,740,416 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of institutional investors have recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the third quarter worth $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin during the fourth quarter worth about $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the fourth quarter worth about $25,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth about $27,000. Finally, Riverview Trust Co increased its stake 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 last quarter. Institutional investors and hedge funds 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.