AppLovin (NASDAQ:APP) Shares Down 2.8% Following Insider Selling

Shares of AppLovin Co. (NASDAQ:APP) fell 2.8% on Thursday after an insider sold shares in the company. The company traded as low as $260.93 and last traded at $264.90. 2,241,727 shares traded hands during trading, a decline of 56% from the average session volume of 5,135,590 shares. The stock had previously closed at $272.59.

Specifically, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several research analysts have recently weighed in on APP shares. Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. Benchmark upped their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Citigroup increased their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Loop Capital boosted their price target on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Stock Down 0.2 %

The firm has a market capitalization of $92.47 billion, a PE ratio of 59.91, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm’s 50 day moving average price is $358.15 and its two-hundred day moving average price is $265.29.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, research analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the company. JFS Wealth Advisors LLC raised its position in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after purchasing an additional 31 shares during the period. Quadrant Capital Group LLC lifted its position in shares of AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after buying an additional 33 shares during the last quarter. Forum Financial Management LP lifted its position in shares of AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after buying an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in shares of AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after buying an additional 38 shares during the period. 41.85% of the stock is owned by institutional investors.

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.