AppLovin (NYSE:APP) Trading Down 4.1%

Shares of AppLovin Co. (NYSE:APP) fell 4.1% on Monday . The company traded as low as $75.61 and last traded at $76.24. 5,740 shares traded hands during trading, a decline of 99% from the average session volume of 1,110,609 shares. The stock had previously closed at $79.47.

A number of brokerages recently weighed in on APP. Morgan Stanley raised AppLovin from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $68.00 to $60.00 in a report on Monday, August 16th. Stifel Nicolaus upgraded AppLovin from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $90.00 in a research report on Thursday, September 9th. JPMorgan Chase & Co. raised their price objective on AppLovin from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday. Macquarie assumed coverage on AppLovin in a research note on Tuesday, August 31st. They issued an “outperform” rating and a $90.00 target price for the company. Finally, Citigroup raised their price objective on AppLovin from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, June 4th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $79.08.

The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $67.96.

AppLovin (NYSE:APP) last released its quarterly earnings data on Tuesday, August 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Sell-side analysts expect that AppLovin Co. will post 0.26 earnings per share for the current fiscal year.

In other AppLovin news, CMO Katie Kihorany Jansen sold 50,000 shares of the business’s stock in a transaction dated Friday, August 20th. The stock was sold at an average price of $69.50, for a total value of $3,475,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 16,500 shares of the business’s stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $75.78, for a total value of $1,250,370.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,169 shares of company stock valued at $11,117,179. Insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans bought a new stake in shares of AppLovin in the 2nd quarter valued at approximately $68,234,000. Y Intercept Hong Kong Ltd acquired a new position in AppLovin during the 2nd quarter worth $290,000. Marshall Wace North America L.P. acquired a new position in AppLovin during the 2nd quarter worth $29,269,000. Morgan Stanley acquired a new position in AppLovin during the 2nd quarter worth $826,000. Finally, Blackstone Inc acquired a new position in AppLovin during the 2nd quarter worth $11,276,000. 35.80% of the stock is owned by institutional investors and hedge funds.

AppLovin Company Profile (NYSE:APP)

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps worldwide. The company's software solutions include AppDiscovery, a solution to automate, optimize, and manage user acquisition investments for business clients; and MAX, an in-app bidding solution that optimizes purchases of app ad inventory.

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