AppLovin (NASDAQ:APP) Stock Price Down 2.2% – Should You Sell?

Shares of AppLovin Corporation (NASDAQ:APP) fell 2.2% during mid-day trading on Monday . The company traded as low as $682.00 and last traded at $698.82. 3,107,166 shares traded hands during trading, a decline of 54% from the average session volume of 6,731,701 shares. The stock had previously closed at $714.23.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on APP shares. Jefferies Financial Group raised their target price on AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a report on Thursday, December 11th. UBS Group reissued a “buy” rating and issued a $775.00 price target on shares of AppLovin in a research report on Thursday, December 11th. JPMorgan Chase & Co. raised their price objective on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Citigroup cut their price objective on AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Wells Fargo & Company upped their price objective on AppLovin from $633.00 to $721.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Nineteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $695.90.

AppLovin Stock Down 2.9%

The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The firm has a market cap of $227.72 billion, a P/E ratio of 81.77, a price-to-earnings-growth ratio of 3.75 and a beta of 2.51. The stock’s fifty day moving average is $635.40 and its two-hundred day moving average is $528.84.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.11. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. As a group, research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares in the company, valued at $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the transaction, the chief technology officer directly owned 3,323,681 shares in the company, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 340,336 shares of company stock worth $200,062,623. 13.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppLovin

A number of hedge funds have recently made changes to their positions in the business. Concurrent Investment Advisors LLC increased its holdings in AppLovin by 31.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock valued at $1,627,000 after acquiring an additional 1,114 shares during the last quarter. Aberdeen Group plc grew its position in shares of AppLovin by 6.5% during the second quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after purchasing an additional 7,001 shares in the last quarter. Legal Advantage Investments Inc. purchased a new position in shares of AppLovin during the second quarter valued at about $1,523,000. IFM Investors Pty Ltd increased its holdings in shares of AppLovin by 15.6% in the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after purchasing an additional 6,104 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of AppLovin by 30.6% in the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after buying an additional 4,890 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.