AppLovin (NYSE:APP) Stock Price Down 7.8%

AppLovin Co. (NYSE:APP) traded down 7.8% during mid-day trading on Tuesday . The company traded as low as $40.49 and last traded at $40.57. 1,101,021 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 2,880,139 shares. The stock had previously closed at $44.01.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of AppLovin from a “hold” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $50.00 in a research note on Tuesday, August 22nd. The Goldman Sachs Group raised their target price on shares of AppLovin from $25.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Stifel Nicolaus raised their target price on shares of AppLovin from $36.00 to $43.00 in a research note on Thursday, August 10th. BTIG Research raised their target price on shares of AppLovin from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of AppLovin from $21.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.88.

AppLovin Stock Down 10.7 %

The company’s 50 day moving average is $35.91 and its 200 day moving average is $25.26. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.09. The company has a market cap of $13.68 billion, a PE ratio of 696.62, a P/E/G ratio of 2.76 and a beta of 1.82.

AppLovin (NYSE:APP) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.14. AppLovin had a net margin of 0.70% and a return on equity of 5.51%. The firm had revenue of $750.17 million for the quarter, compared to the consensus estimate of $724.41 million. During the same quarter in the previous year, the firm earned ($0.06) EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, analysts predict that AppLovin Co. will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $30.94, for a total transaction of $773,500.00. Following the transaction, the insider now owns 659,533 shares in the company, valued at approximately $20,405,951.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Eduardo Vivas sold 474,357 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.76, for a total value of $19,809,148.32. Following the sale, the director now directly owns 9,078,178 shares of the company’s stock, valued at approximately $379,104,713.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 25,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $30.94, for a total transaction of $773,500.00. Following the completion of the sale, the insider now directly owns 659,533 shares in the company, valued at $20,405,951.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,610,250 shares of company stock worth $947,717,590. 12.43% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of AppLovin by 99.0% in the 1st quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock valued at $54,000 after acquiring an additional 488 shares during the last quarter. Quantbot Technologies LP purchased a new stake in AppLovin during the first quarter worth $74,000. Point72 Hong Kong Ltd purchased a new stake in AppLovin during the second quarter worth $55,000. Signaturefd LLC boosted its holdings in AppLovin by 74.9% during the first quarter. Signaturefd LLC now owns 1,810 shares of the company’s stock worth $29,000 after buying an additional 775 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in AppLovin by 254.5% during the first quarter. Parkside Financial Bank & Trust now owns 1,861 shares of the company’s stock worth $29,000 after buying an additional 1,336 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies.