AppLovin (NASDAQ:APP) Trading Down 10.5% - Here's What Happened

AppLovin Co. (NASDAQ:APP - Get Free Report) traded down 10.5% during trading on Thursday . The company traded as low as $445.09 and last traded at $442.30. 3,811,066 shares were traded during trading, a decline of 24% from the average session volume of 5,015,485 shares. The stock had previously closed at $494.17.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on APP shares. Wells Fargo & Company boosted their target price on AppLovin from $360.00 to $366.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. UBS Group lifted their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Bank of America upped their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Macquarie lifted their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Finally, Daiwa America upgraded shares of AppLovin from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $442.18.

AppLovin Stock Performance

The stock has a market capitalization of $139.37 billion, a P/E ratio of 91.48, a PEG ratio of 3.28 and a beta of 2.30. 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 firm has a 50-day moving average of $365.59 and a 200 day moving average of $244.47.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results 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%. Research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares of the company's stock, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 196,302 shares of company stock worth $65,305,354 over the last three months. Company insiders own 14.69% of the company's stock.

Institutional Trading of AppLovin

Several hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new stake in AppLovin in the third quarter valued at about $281,000. Signaturefd LLC boosted its stake in AppLovin by 12.3% during the 3rd quarter. Signaturefd LLC now owns 2,794 shares of the company's stock worth $365,000 after acquiring an additional 305 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of AppLovin by 58.0% during the third quarter. Private Advisor Group LLC now owns 11,291 shares of the company's stock worth $1,474,000 after purchasing an additional 4,147 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of AppLovin in the 3rd quarter valued at $56,410,000. Finally, IFM Investors Pty Ltd increased its position in shares of AppLovin by 11.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 40,439 shares of the company's stock valued at $5,279,000 after buying an additional 3,999 shares in the last quarter. 41.85% of the stock is owned by 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.