AppLovin (NASDAQ:APP) Shares Down 4.2% - Time to Sell?

AppLovin Corporation (NASDAQ:APP - Get Free Report) fell 4.2% during mid-day trading on Friday . The stock traded as low as $324.68 and last traded at $330.04. 3,137,597 shares were traded during mid-day trading, a decline of 49% from the average session volume of 6,106,191 shares. The stock had previously closed at $344.37.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on APP. Piper Sandler boosted their price objective on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Jefferies Financial Group boosted their price target on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research report on Wednesday, May 28th. Wells Fargo & Company increased their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Benchmark reissued a "buy" rating and set a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $438.10.

AppLovin Stock Up 3.3%

The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $113.50 billion, a P/E ratio of 60.54, a P/E/G ratio of 1.89 and a beta of 2.53. The stock has a 50 day moving average price of $333.20 and a 200 day moving average price of $333.86.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $0.67 EPS. The business's revenue for the quarter was up 40.3% on a year-over-year basis. Research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,700 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total value of $12,318,698.00. Following the completion of the sale, the chief executive officer now owns 2,760,363 shares in the company, valued at approximately $1,009,023,091.02. This represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total transaction 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 $3,637,194.60. This represents a 13.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Corporate insiders own 13.66% of the company's stock.

Institutional Trading of AppLovin

Hedge funds have recently modified their holdings of the business. First Hawaiian Bank purchased a new position in shares of AppLovin during the first quarter valued at $1,017,000. Inspire Investing LLC acquired a new stake in AppLovin during the 1st quarter worth about $2,120,000. Strs Ohio purchased a new position in AppLovin during the 1st quarter valued at about $86,173,000. Advisors Capital Management LLC acquired a new position in shares of AppLovin in the 1st quarter valued at about $3,373,000. Finally, McAdam LLC lifted its position in shares of AppLovin by 54.6% in the first quarter. McAdam LLC now owns 1,940 shares of the company's stock worth $514,000 after purchasing an additional 685 shares in the last quarter. Hedge funds and other institutional investors 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.