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

Shares of AppLovin Co. (NASDAQ:APP) dropped 1.9% during mid-day trading on Monday following insider selling activity. The stock traded as low as $331.54 and last traded at $334.57. Approximately 868,327 shares traded hands 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 stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value 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 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 through the SEC website.

Analysts Set New Price Targets

Several equities analysts have weighed in on APP shares. Bank of America raised their price target on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Oppenheimer restated an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. boosted their price target on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One 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, AppLovin has an average rating of “Moderate Buy” and an average price target of $310.71.

AppLovin Stock Performance

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a 50-day moving average price of $272.67 and a 200-day moving average price of $157.65. The firm has a market capitalization of $114.72 billion, a price-to-earnings ratio of 103.59, a P/E/G ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP) last released its quarterly earnings data 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. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. As a group, equities research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APP. National Bank of Canada FI lifted its stake in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the last quarter. HM Payson & Co. raised its stake in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after buying an additional 104 shares during the last quarter. Finally, Ashton Thomas Securities LLC increased its holdings in AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after buying an additional 121 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.