AppLovin (NASDAQ:APP) Stock Price Down 0.6% – What’s Next?

AppLovin Co. (NASDAQ:APP) shares were down 0.6% during mid-day trading on Thursday . The stock traded as low as $361.27 and last traded at $363.97. Approximately 1,737,057 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 4,007,993 shares. The stock had previously closed at $366.34.

Analysts Set New Price Targets

APP has been the topic of several research analyst reports. UBS Group increased their target price on AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Citigroup increased their price objective on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Stifel Nicolaus boosted their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Oppenheimer reissued an “outperform” rating and set a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

AppLovin Trading Down 0.2 %

The company’s fifty day simple moving average is $339.92 and its two-hundred day simple moving average is $204.14. The company has a market capitalization of $122.66 billion, a price-to-earnings ratio of 110.76, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. Research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares in the company, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 over the last quarter. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the fourth quarter valued at $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin during the 3rd quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Finally, Raleigh Capital Management Inc. acquired a new stake in AppLovin in the 3rd quarter valued at about $29,000. 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.