AppLovin (NASDAQ:APP) Sets New 12-Month Low – Should You Sell?

AppLovin Corporation (NASDAQ:APP) reached a new 52-week low during trading on Friday . The company traded as low as $298.00 and last traded at $300.86, with a volume of 930723 shares changing hands. The stock had previously closed at $308.77.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC lowered their price target on shares of AppLovin from $700.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Morgan Stanley cut their price objective on shares of AppLovin from $720.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Weiss Ratings raised AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Wedbush cut their price target on AppLovin from $640.00 to $610.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $553.83.

AppLovin Stock Down 2.3%

The business’s fifty day moving average price is $431.50 and its two-hundred day moving average price is $449.24. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The firm has a market capitalization of $100.96 billion, a P/E ratio of 23.19, a PEG ratio of 0.62 and a beta of 2.54.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 EPS for the quarter, hitting the consensus estimate of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business posted $2.39 EPS. AppLovin’s revenue was up 52.8% on a year-over-year basis. Equities analysts expect that AppLovin Corporation will post 15.57 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the transaction, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 303,280 shares of company stock valued at $153,835,185. Corporate insiders own 12.81% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in AppLovin by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after purchasing an additional 166,117 shares in the last quarter. State Street Corp grew its position in AppLovin by 0.4% during the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after purchasing an additional 52,377 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after buying an additional 448,005 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock worth $4,103,386,000 after buying an additional 212,349 shares during the period. Finally, Morgan Stanley grew its holdings in shares of AppLovin by 10.7% during the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after buying an additional 538,806 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.