By otakuyassine3@gmail.com 
AppLovin Co. (NASDAQ:APP – Get Free Report) shares were down 1.8% on Monday . The stock traded as low as $325.21 and last traded at $329.25. Approximately 750,322 shares traded hands during trading, a decline of 84% from the average daily volume of 4,582,050 shares. The stock had previously closed at $335.17.
Analyst Upgrades and Downgrades
Several equities analysts have commented on APP shares. Benchmark reissued a “sell” rating and issued a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Piper Sandler began coverage on AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $310.71.
Get Our Latest Research Report on APP
AppLovin Stock Down 3.4 %
The stock’s 50-day moving average price is $291.31 and its 200-day moving average price is $166.77. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $108.67 billion, a price-to-earnings ratio of 98.13, a P/E/G ratio of 4.17 and a beta of 2.28.
AppLovin (NASDAQ:APP – Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current year.
Insider Transactions at AppLovin
In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the transaction, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 in the last quarter. 14.69% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On AppLovin
Several large investors have recently added to or reduced their stakes in APP. Townsquare Capital LLC lifted its stake in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after acquiring an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC purchased a new stake in shares of AppLovin in the third quarter valued at about $224,000. State Street Corp lifted its position in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. grew its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management increased its stake in AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after buying an additional 81,331 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.
About AppLovin
AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company’s software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher’s advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.
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