AppLovin (NASDAQ:APP) Shares Down 1.6% on Insider Selling

AppLovin Co. (NASDAQ:APP - Get Free Report)'s share price dropped 1.6% during trading on Friday after an insider sold shares in the company. The stock traded as low as $370.56 and last traded at $374.47. Approximately 1,072,461 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 6,088,073 shares. The stock had previously closed at $380.58.

Specifically, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the transaction, the director now directly owns 9,510 shares of the company's stock, valued at approximately $3,637,194.60. This trade represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Loop Capital reaffirmed a "buy" rating and set a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Wells Fargo & Company lifted their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $438.10.

AppLovin Price Performance

The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a fifty day moving average of $324.29 and a two-hundred day moving average of $334.18. The stock has a market capitalization of $123.34 billion, a P/E ratio of 80.28, a P/E/G ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm's quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. On average, analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares in the last quarter. FMR LLC raised its holdings in AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares in the last quarter. SVB Wealth LLC bought a new position in AppLovin in the fourth quarter worth about $1,781,922,000. Finally, Baillie Gifford & Co. grew its stake in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after acquiring an additional 1,185,859 shares during the last quarter. 41.85% of the stock is currently 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.