AppLovin (NASDAQ:APP) Trading Down 2% – What’s Next?

AppLovin Corporation (NASDAQ:APP) fell 2% during mid-day trading on Thursday . The company traded as low as $514.35 and last traded at $521.94. 5,633,078 shares were traded during trading, an increase of 5% from the average session volume of 5,354,250 shares. The stock had previously closed at $532.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on APP shares. Wells Fargo & Company raised their price objective on AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Benchmark increased their target price on AppLovin from $700.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. UBS Group set a $800.00 price target on AppLovin in a report on Tuesday, January 13th. The Goldman Sachs Group upped their price objective on shares of AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, BTIG Research reissued a “buy” rating and issued a $771.00 target price on shares of AppLovin in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $706.76.

AppLovin Trading Down 2.0%

The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The business’s 50-day simple moving average is $636.14 and its two-hundred day simple moving average is $558.35. The stock has a market capitalization of $176.39 billion, a price-to-earnings ratio of 63.34, a PEG ratio of 1.87 and a beta of 2.50.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business’s revenue for the quarter was up 68.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. On average, research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the sale, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 150,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the completion of the sale, the director owned 7,133,292 shares of the company’s stock, valued at approximately $4,643,131,095.72. This trade represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 340,336 shares of company stock worth $200,062,623 over the last quarter. 13.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in the business. Revolve Wealth Partners LLC acquired a new stake in AppLovin in the fourth quarter valued at $294,000. Bison Wealth LLC bought a new stake in shares of AppLovin in the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC raised its stake in shares of AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AppLovin by 37.8% during the second quarter. Assenagon Asset Management S.A. now owns 5,752 shares of the company’s stock worth $2,014,000 after purchasing an additional 1,579 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of AppLovin during the second quarter worth about $294,000. 41.85% of the stock is currently owned by hedge funds and other 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.