AppLovin (NASDAQ:APP) Trading Down 1.8% – What’s Next?

Shares of AppLovin Corporation (NASDAQ:APP) traded down 1.8% during trading on Monday . The company traded as low as $306.25 and last traded at $312.06. Approximately 5,029,759 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 5,722,188 shares. The stock had previously closed at $317.76.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on APP shares. Bank of America reiterated a “neutral” rating and set a $400.00 price target (down from $430.00) on shares of AppLovin in a research report on Tuesday, August 11th. Scotiabank reaffirmed a “sector outperform” rating and issued a $515.00 price objective on shares of AppLovin in a research note on Thursday, August 6th. Wedbush lowered their target price on shares of AppLovin from $640.00 to $610.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Benchmark dropped their target price on shares of AppLovin from $500.00 to $440.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Finally, Weiss Ratings raised AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $538.61.

AppLovin Trading Down 0.1%

The company has a market capitalization of $104.32 billion, a P/E ratio of 23.96, a PEG ratio of 0.66 and a beta of 2.49. The business has a 50 day moving average price of $403.28 and a 200 day moving average price of $442.00. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.76. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The business’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.39 earnings per share. Analysts anticipate that AppLovin Corporation will post 15.53 EPS for the current year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction dated 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 directly owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 294,228 shares of company stock worth $148,403,985 in the last 90 days. Corporate insiders own 12.81% of the company’s stock.

Institutional Trading of AppLovin

Several hedge funds have recently bought and sold shares of APP. Revolve Wealth Partners LLC bought a new position in AppLovin in the fourth quarter valued at approximately $294,000. Bison Wealth LLC bought a new stake in shares of AppLovin during the fourth quarter worth $239,000. Integrated Wealth Concepts LLC raised its holdings in shares of AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares during the period. NewEdge Advisors LLC raised its holdings in shares of AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after acquiring an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after acquiring an additional 9,380 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.