AppLovin (NASDAQ:APP) Shares Down 1.2% - Time to Sell?

AppLovin Co. (NASDAQ:APP - Get Free Report)'s stock price was down 1.2% on Friday . The company traded as low as $332.48 and last traded at $335.40. Approximately 3,091,841 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 6,011,883 shares. The stock had previously closed at $339.51.

Wall Street Analyst Weigh In

Several brokerages recently commented on APP. UBS Group increased their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Citigroup boosted their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley lifted their target price on AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Benchmark reissued a "buy" rating and issued a $525.00 target price on shares of AppLovin in a 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $433.85.

AppLovin Stock Performance

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 stock has a market capitalization of $125.82 billion, a P/E ratio of 81.52, a P/E/G ratio of 3.02 and a beta of 2.39. The stock has a 50 day moving average of $276.15 and a 200 day moving average of $313.96.

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

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. The trade was a 16.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This represents a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 in the last ninety days. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oxinas Partners Wealth Management LLC bought a new position in shares of AppLovin during the fourth quarter worth about $1,081,000. Barclays PLC grew its position in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Tcfg Wealth Management LLC bought a new stake in AppLovin during the fourth quarter worth about $369,000. Caprock Group LLC increased its holdings in AppLovin by 42.2% during the fourth quarter. Caprock Group LLC now owns 42,146 shares of the company's stock worth $13,648,000 after buying an additional 12,500 shares during the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in shares of AppLovin during the 4th quarter worth approximately $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.