AppLovin (NASDAQ:APP) Trading Down 2% Following Analyst Downgrade

AppLovin Co. (NASDAQ:APP - Get Free Report)'s stock price was down 2% on Thursday after UBS Group lowered their price target on the stock from $630.00 to $450.00. UBS Group currently has a buy rating on the stock. AppLovin traded as low as $263.00 and last traded at $269.45. Approximately 3,016,241 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 5,687,868 shares. The stock had previously closed at $274.96.

APP has been the topic of several other research reports. Loop Capital reaffirmed a "buy" rating and issued a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a report on Monday, March 17th. FBN Securities assumed coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price on the stock. Oppenheimer reissued an "outperform" rating and issued a $560.00 price target on shares of AppLovin in a report on Thursday, March 27th. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given 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 price target of $424.84.

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. Insiders own 14.69% of the company's stock.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank increased its position in AppLovin by 38.8% during the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company's stock worth $3,286,000 after purchasing an additional 7,039 shares during the last quarter. Oxinas Partners Wealth Management LLC acquired a new stake in shares of AppLovin during the 4th quarter worth $1,081,000. Virtu Financial LLC purchased a new position in shares of AppLovin in the 3rd quarter worth $3,211,000. Franchise Capital Ltd acquired a new position in AppLovin in the fourth quarter valued at $2,811,000. Finally, Barclays PLC grew its position in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after acquiring an additional 153,248 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Price Performance

The company has a 50 day simple moving average of $327.20 and a 200 day simple moving average of $294.56. The company has a market capitalization of $81.05 billion, a price-to-earnings ratio of 52.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

AppLovin Company Profile

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.