AppLovin (NASDAQ:APP) Trading Down 3.1% – Time to Sell?

AppLovin Co. (NASDAQ:APP)’s stock price dropped 3.1% during trading on Thursday . The stock traded as low as $312.80 and last traded at $317.48. Approximately 3,461,967 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 5,286,038 shares. The stock had previously closed at $327.62.

Analyst Ratings Changes

APP has been the subject of several research reports. UBS Group upped their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Piper Sandler lifted their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Bank of America upped their price objective on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Loop Capital reiterated a “buy” rating on shares of AppLovin in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Stock Up 4.1 %

The stock has a market capitalization of $92.60 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. 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’s fifty day moving average price is $351.86 and its two-hundred day moving average price is $281.71.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities research analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, 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. In the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by insiders.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new stake in AppLovin during the fourth quarter valued at $88,000. 111 Capital acquired a new stake in shares of AppLovin during the 4th quarter valued at about $1,142,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of AppLovin by 2.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 105,925 shares of the company’s stock valued at $34,302,000 after purchasing an additional 2,793 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new position in AppLovin in the 4th quarter worth about $283,000. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in AppLovin during the fourth quarter worth approximately $21,804,000. 41.85% of the stock is 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.