AppLovin (NASDAQ:APP) Shares Down 2.5% – Time to Sell?

AppLovin Corporation (NASDAQ:APP) shares dropped 2.5% on Tuesday . The company traded as low as $595.51 and last traded at $617.24. Approximately 4,572,773 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 4,655,910 shares. The stock had previously closed at $632.91.

Analyst Ratings Changes

Several equities research analysts recently commented on APP shares. Jefferies Financial Group increased their price target on AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Phillip Securities raised AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. BTIG Research reiterated a “buy” rating and set a $771.00 price target on shares of AppLovin in a report on Wednesday, December 17th. Wells Fargo & Company upped their price objective on shares of AppLovin from $633.00 to $721.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Royal Bank Of Canada raised their price objective on shares of AppLovin from $700.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $695.90.

AppLovin Stock Down 2.5%

The stock has a market capitalization of $208.60 billion, a price-to-earnings ratio of 74.91, a P/E/G ratio of 2.04 and a beta of 2.50. The business has a 50-day moving average of $639.03 and a 200-day moving average of $537.14. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25.

AppLovin (NASDAQ:APP) last announced its 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. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $1.29 earnings per share. AppLovin’s revenue was up 68.2% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction on Monday, December 8th. The stock was sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the sale, the director directly owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 4,069 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $497.50, for a total value of $2,024,327.50. Following the transaction, the chief executive officer directly owned 2,998,948 shares in the company, valued at approximately $1,491,976,630. The trade was a 0.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 340,336 shares of company stock worth $200,062,623 in the last ninety days. 13.66% of the stock is owned by company insiders.

Institutional Trading of AppLovin

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Concurrent Investment Advisors LLC lifted its holdings in AppLovin by 31.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock worth $1,627,000 after buying an additional 1,114 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in shares of AppLovin during the third quarter worth $2,514,000. Aberdeen Group plc raised its stake in shares of AppLovin by 6.5% in the second quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after acquiring an additional 7,001 shares in the last quarter. Legal Advantage Investments Inc. acquired a new stake in shares of AppLovin in the second quarter valued at $1,523,000. Finally, IFM Investors Pty Ltd boosted its holdings in AppLovin by 15.6% in the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after purchasing an additional 6,104 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Company Profile

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.