AppLovin (NASDAQ:APP) Shares Down 3.9% After Insider Selling

AppLovin Co. (NASDAQ:APP - Get Free Report) shares traded down 3.9% during trading on Monday following insider selling activity. The company traded as low as $387.85 and last traded at $401.47. 2,524,727 shares traded hands during trading, a decline of 59% from the average session volume of 6,105,568 shares. The stock had previously closed at $417.89.

Specifically, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the transaction, the director now owns 3,451 shares in the company, valued at approximately $1,450,455.30. This represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 2,987 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $413.98, for a total transaction of $1,236,558.26. Following the transaction, the director now directly owns 3,964 shares in the company, valued at approximately $1,641,016.72. This trade represents a 42.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Herald Y. Chen sold 100,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $419.91, for a total value of $41,991,000.00. Following the completion of the sale, the director now owns 181,929 shares in the company, valued at $76,393,806.39. This trade represents a 35.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APP. Oppenheimer reiterated an "outperform" rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Arete Research set a $200.00 target price on AppLovin in a report on Wednesday, March 5th. Benchmark restated a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. Finally, Wells Fargo & Company boosted their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and an average price target of $436.10.

AppLovin Trading Down 3.6%

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 market capitalization of $136.34 billion, a price-to-earnings ratio of 88.61, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. The business has a 50 day simple moving average of $311.16 and a 200-day simple moving average of $332.43.

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

Institutional Trading of AppLovin

A number of institutional investors and hedge funds have recently made changes to their positions in APP. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the fourth quarter worth about $25,000. Atala Financial Inc purchased a new stake in shares of AppLovin during the 1st quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin during the 1st quarter worth approximately $27,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new position in AppLovin in the fourth quarter valued at approximately $28,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Company Profile

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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