AppLovin (NASDAQ:APP) Stock Price Down 3.5% – Here’s What Happened

AppLovin Co. (NASDAQ:APP) traded down 3.5% during mid-day trading on Friday . The stock traded as low as $427.80 and last traded at $434.23. 2,384,028 shares were traded during mid-day trading, a decline of 54% from the average session volume of 5,159,058 shares. The stock had previously closed at $450.01.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on APP shares. Wells Fargo & Company boosted their target price on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Piper Sandler boosted their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Oppenheimer restated an “outperform” rating and issued a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Jefferies Financial Group raised their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $442.18.

AppLovin Stock Down 7.7 %

The business has a fifty day moving average of $365.59 and a 200 day moving average of $244.47. 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 stock has a market capitalization of $139.37 billion, a price-to-earnings ratio of 91.48, a PEG ratio of 3.28 and a beta of 2.30.

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

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the company’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 transaction, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,302 shares of company stock valued at $65,305,354 over the last 90 days. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Several hedge funds have recently made changes to their positions in APP. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin during the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the fourth quarter worth $25,000. Riverview Trust Co increased its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at $28,000. Finally, Hemington Wealth Management raised its stake in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. 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.