AppLovin (NASDAQ:APP) Trading Down 2.6%

AppLovin Co. (NASDAQ:APP - Get Free Report) fell 2.6% during mid-day trading on Monday . The stock traded as low as $83.51 and last traded at $84.19. 1,435,293 shares were traded during trading, a decline of 65% from the average session volume of 4,141,727 shares. The stock had previously closed at $86.43.

Analyst Ratings Changes

A number of equities research analysts have weighed in on APP shares. BTIG Research lifted their price objective on AppLovin from $87.00 to $100.00 and gave the company a "buy" rating in a report on Thursday. Oppenheimer increased their price objective on AppLovin from $85.00 to $97.00 and gave the stock an "outperform" rating in a research report on Thursday. TheStreet raised shares of AppLovin from a "d+" rating to a "c-" rating in a report on Friday, March 8th. Jefferies Financial Group upped their target price on AppLovin from $93.00 to $105.00 and gave the company a "buy" rating in a report on Thursday. Finally, Citigroup lifted their price target on AppLovin from $80.00 to $98.00 and gave the stock a "buy" rating in a research note on Friday. 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 stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and an average price target of $71.72.

AppLovin Trading Down 0.1 %

The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The company has a market cap of $28.45 billion, a PE ratio of 51.41, a price-to-earnings-growth ratio of 1.46 and a beta of 1.85. The business has a 50 day simple moving average of $70.58 and a two-hundred day simple moving average of $52.75.

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

Insider Activity at AppLovin

In other news, Director Craig Scott Billings sold 5,550 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following 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 SEC, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Scott Billings sold 5,550 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $743,065.87. The disclosure for this sale can be found here. In the last three months, insiders sold 61,215 shares of company stock worth $4,416,815. Corporate insiders own 14.69% of the company's stock.

Institutional Trading of AppLovin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of AppLovin during the third quarter valued at approximately $237,000. Bank of New York Mellon Corp lifted its holdings in shares of AppLovin by 5.0% in 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 purchasing an additional 34,067 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 buying an additional 5,807 shares during the period. Strs Ohio purchased a new position in shares of AppLovin during the third quarter valued at $768,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in AppLovin by 19.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,435 shares of the company's stock valued at $9,967,000 after buying an additional 39,850 shares during the period. 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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