AppLovin (NASDAQ:APP) Shares Down 1.2% on Insider Selling

AppLovin Corporation (NASDAQ:APP)’s stock price traded down 1.2% during trading on Monday following insider selling activity. The stock traded as low as $446.88 and last traded at $453.30. 3,892,413 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 6,539,297 shares. The stock had previously closed at $458.67.

Specifically, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. The trade was a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the sale, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the completion of the transaction, the chief technology officer owned 30,658 shares in the company, valued at approximately $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APP. Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Piper Sandler reiterated an “overweight” rating and issued a $650.00 price target (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Scotiabank increased their price objective on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, Wedbush raised their price objective on shares of AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $654.50.

AppLovin Stock Performance

The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $152.89 billion, a P/E ratio of 46.49, a P/E/G ratio of 0.81 and a beta of 2.51. The business has a fifty day moving average price of $490.72 and a 200-day moving average price of $574.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company earned $1.73 EPS. AppLovin’s revenue for the quarter was up 66.0% on a year-over-year basis. On average, sell-side analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Institutional Trading of AppLovin

Large investors have recently made changes to their positions in the stock. Lazard Freres Gestion S.A.S. purchased a new stake in AppLovin during the third quarter valued at $2,514,000. Mediolanum International Funds Ltd grew its stake in shares of AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after purchasing an additional 32,510 shares during the period. Thames Capital Management LLC increased its position in shares of AppLovin by 114.8% during the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock valued at $12,001,000 after purchasing an additional 8,925 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of AppLovin by 14.8% in the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock worth $84,160,000 after purchasing an additional 15,074 shares during the period. Finally, APG Asset Management N.V. bought a new position in shares of AppLovin in the 3rd quarter worth approximately $4,958,000. 41.85% of the stock is currently owned by institutional investors.

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.