AppLovin (NASDAQ:APP) Trading Down 1.9% Following Insider Selling

AppLovin Co. (NASDAQ:APP) shares were down 1.9% on Monday after an insider sold shares in the company. The stock traded as low as $331.54 and last traded at $334.57. Approximately 868,327 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 4,623,908 shares. The stock had previously closed at $340.99.

Specifically, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on APP shares. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Oppenheimer restated an “outperform” rating and set a $480.00 price target on shares of AppLovin in a report on Tuesday, December 10th. Citigroup boosted their price target on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Loop Capital increased their price objective on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.71.

AppLovin Stock 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 company has a fifty day moving average price of $272.67 and a 200 day moving average price of $157.65. The stock has a market cap of $114.72 billion, a P/E ratio of 103.59, a P/E/G ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business posted $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. On average, equities analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Institutional Investors Weigh In On AppLovin

Institutional investors and hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC increased its holdings in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. FMR LLC lifted its holdings in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. Lone Pine Capital LLC boosted its position in shares of AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after buying an additional 382,767 shares during the last quarter. State Street Corp grew its holdings in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after buying an additional 449,241 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

About AppLovin

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.