AppLovin (NASDAQ:APP) Shares Down 16.9% – Should You Sell?

AppLovin Corporation (NASDAQ:APPGet Free Report) shares fell 16.9% on Friday . The company traded as low as $463.08 and last traded at $473.11. 12,127,518 shares changed hands during mid-day trading, an increase of 116% from the average session volume of 5,615,026 shares. The stock had previously closed at $569.24.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APP shares. Benchmark boosted their price target on AppLovin from $700.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft set a $705.00 target price on AppLovin and gave the stock a “buy” rating in a report on Wednesday, October 22nd. UBS Group set a $800.00 price target on shares of AppLovin in a report on Tuesday, January 13th. Needham & Company LLC upgraded shares of AppLovin from a “hold” rating to a “buy” rating and set a $700.00 price objective for the company in a research note on Monday. Finally, Royal Bank Of Canada increased 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 equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $706.45.

Read Our Latest Research Report on APP

AppLovin Trading Down 16.9%

The firm has a market cap of $159.89 billion, a P/E ratio of 57.42, a price-to-earnings-growth ratio of 1.79 and a beta of 2.50. The business’s 50 day moving average is $636.28 and its 200-day moving average is $564.98. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38.

AppLovin (NASDAQ:APPGet Free Report) last announced its quarterly earnings data 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 period last year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 68.2% compared to the same quarter last year. As a group, analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the transaction, the insider owned 277,110 shares in the company, valued at $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 150 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were 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 in the company, valued at approximately $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 340,336 shares of company stock valued at $200,062,623 over the last ninety days. Corporate insiders own 13.66% of the company’s stock.

Institutional Trading of AppLovin

Institutional investors and hedge funds have recently modified their holdings of the company. CBIZ Investment Advisory Services LLC raised its stake in shares of AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after purchasing an additional 18 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after buying an additional 18 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of AppLovin by 2.8% during the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after buying an additional 19 shares during the period. Finally, Claro Advisors LLC boosted its stake in AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Company Profile

(Get Free Report)

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.

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