AppLovin (NASDAQ:APP) Shares Down 3% After Insider Selling

AppLovin Co. (NASDAQ:APP - Get Free Report)'s share price fell 3% on Thursday following insider selling activity. The stock traded as low as $361.52 and last traded at $365.36. 2,018,122 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 6,002,502 shares. The stock had previously closed at $376.54.

Specifically, Director Craig Scott Billings sold 12,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the completion of the sale, the director now directly owns 2,987 shares in the company, valued at $1,054,769.44. This represents a 80.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several equities research analysts have commented on APP shares. Loop Capital restated a "buy" rating and set a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. Oppenheimer restated an "outperform" rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Benchmark reiterated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Monday, April 21st. Finally, UBS Group increased their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $433.85.

AppLovin Trading Down 3.3%

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 business has a fifty day simple moving average of $280.48 and a 200 day simple moving average of $314.77. The company has a market cap of $123.75 billion, a P/E ratio of 80.32, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for 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%. AppLovin's quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. Analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Institutional Trading of AppLovin

Hedge funds have recently made changes to their positions in the stock. Oxinas Partners Wealth Management LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $1,081,000. Barclays PLC lifted its holdings in shares of AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after purchasing an additional 153,248 shares during the last quarter. Tcfg Wealth Management LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $369,000. Caprock Group LLC lifted its holdings in shares of AppLovin by 42.2% in the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company's stock worth $13,648,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Aaron Wealth Advisors LLC bought a new stake in AppLovin during the 4th quarter valued at $382,000. 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.

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