AppLovin (NASDAQ:APP) Stock Price Down 1.3% - Should You Sell?

AppLovin Corporation (NASDAQ:APP - Get Free Report)'s stock price traded down 1.3% during mid-day trading on Wednesday . The company traded as low as $345.03 and last traded at $345.09. 1,124,936 shares were traded during trading, a decline of 82% from the average session volume of 6,127,571 shares. The stock had previously closed at $349.48.

Analyst Ratings Changes

Several research analysts have recently commented on APP shares. Jefferies Financial Group raised their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company upped their target price on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Loop Capital restated a "buy" rating and issued a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. UBS Group boosted their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley increased their price objective on shares of AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average target price of $438.10.

AppLovin Stock Performance

The company has a fifty day moving average price of $337.27 and a two-hundred day moving average price of $333.51. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market capitalization of $115.87 billion, a P/E ratio of 61.81, a PEG ratio of 1.95 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. Equities analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Craig Scott Billings sold 12,000 shares of AppLovin stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total value of $4,237,440.00. Following the completion of the transaction, the director now directly owns 2,987 shares of the company's stock, valued at approximately $1,054,769.44. This trade represents a 80.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 171,420 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $373.77, for a total value of $64,071,653.40. Following the sale, the director now directly owns 221,209 shares of the company's stock, valued at $82,681,287.93. This represents a 43.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock valued at $455,062,980 in the last three months. Insiders own 13.66% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after purchasing an additional 1,213,536 shares during the period. FMR LLC increased its position in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after buying an additional 5,957,885 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after buying an additional 1,769,400 shares during the period. SVB Wealth LLC acquired a new position in AppLovin during the 4th quarter worth approximately $1,781,922,000. Finally, Baillie Gifford & Co. boosted its holdings in AppLovin by 29.0% in 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 in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

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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