AppLovin (NASDAQ:APP) Trading Down 1.1% - Here's What Happened

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) were down 1.1% on Monday . The company traded as low as $295.41 and last traded at $304.04. Approximately 1,717,605 shares changed hands during trading, a decline of 71% from the average daily volume of 5,940,004 shares. The stock had previously closed at $307.58.

Analyst Upgrades and Downgrades

A number of research firms have commented on APP. Piper Sandler reduced their target price on AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. UBS Group lowered their target price on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. FBN Securities began coverage on shares of AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target for the company. The Goldman Sachs Group lowered their price target on AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Bank of America boosted their target price on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $415.15.

AppLovin Price Performance

The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business has a fifty day moving average of $276.82 and a 200 day moving average of $307.08. The stock has a market cap of $103.41 billion, a PE ratio of 67.00, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last ninety days. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after buying an additional 5,957,885 shares in the last quarter. SVB Wealth LLC acquired a new stake in AppLovin in the 4th quarter valued at about $1,781,922,000. Geode Capital Management LLC grew its stake in shares of AppLovin by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock worth $1,462,144,000 after purchasing an additional 573,310 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock valued at $977,639,000 after purchasing an additional 1,222,074 shares during the last quarter. 41.85% of the stock is 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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