AppLovin (NASDAQ:APP) Shares Gap Down Following Insider Selling

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $86.37, but opened at $81.12. AppLovin shares last traded at $82.31, with a volume of 1,720,366 shares changing hands.

Specifically, Director Craig Scott Billings sold 5,550 shares of the business's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the sale, the director now directly owns 12,739 shares of the company's stock, valued at $743,065.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Craig Scott Billings sold 5,550 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the transaction, the director now directly owns 12,739 shares of the company's stock, valued at $743,065.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now owns 546,560 shares of the company's stock, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 214,819 shares of company stock worth $17,071,950. Insiders own 14.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Thursday, May 9th. Jefferies Financial Group increased their price target on AppLovin from $93.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, May 9th. Wedbush lifted their price target on AppLovin from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, May 9th. BTIG Research upped their price objective on AppLovin from $87.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, May 9th. Finally, Stifel Nicolaus lifted their target price on AppLovin from $85.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $71.72.

AppLovin Stock Down 3.4 %

The business's 50 day moving average is $71.52 and its 200 day moving average is $53.43. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market cap of $27.49 billion, a price-to-earnings ratio of 49.67, a price-to-earnings-growth ratio of 1.46 and a beta of 1.85.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. AppLovin's revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share. Equities analysts expect that AppLovin Co. will post 2.96 earnings per share for the current year.

Institutional Trading of AppLovin

Several hedge funds and other institutional investors have recently modified their holdings of APP. Cambridge Investment Research Advisors Inc. acquired a new position in AppLovin in the 3rd quarter worth about $237,000. Bank of New York Mellon Corp raised its position in AppLovin by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 709,140 shares of the company's stock valued at $28,337,000 after acquiring an additional 34,067 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in AppLovin by 23.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,259 shares of the company's stock worth $1,209,000 after acquiring an additional 5,807 shares in the last quarter. Strs Ohio bought a new stake in AppLovin in the third quarter worth approximately $768,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of AppLovin by 19.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,435 shares of the company's stock worth $9,967,000 after purchasing an additional 39,850 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.