AppLovin Sees Unusually Large Options Volume (NASDAQ:APP)

AppLovin Co. (NASDAQ:APPGet Free Report) was the recipient of unusually large options trading on Friday. Stock traders bought 21,787 call options on the company. This is an increase of 104% compared to the typical daily volume of 10,658 call options.

AppLovin Price Performance

NASDAQ APP traded up $1.20 on Friday, reaching $88.16. The company had a trading volume of 3,178,199 shares, compared to its average volume of 4,287,636. The stock has a market capitalization of $29.01 billion, a PE ratio of 54.29, a price-to-earnings-growth ratio of 1.47 and a beta of 1.86. AppLovin has a 12 month low of $25.24 and a 12 month high of $91.91. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The firm’s 50 day moving average price is $80.43 and its 200 day moving average price is $64.23.

AppLovin (NASDAQ:APPGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. As a group, equities analysts predict that AppLovin will post 2.96 earnings per share for the current year.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the sale, the insider now directly owns 390,615 shares in the company, valued at approximately $33,225,711.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.65, for a total transaction of $330,666.15. Following the transaction, the director now directly owns 11,565 shares of the company’s stock, valued at approximately $874,892.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 47,001 shares of AppLovin stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the completion of the sale, the insider now directly owns 390,615 shares of the company’s stock, valued at approximately $33,225,711.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,738,887 shares of company stock valued at $1,478,466,735. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. DNB Asset Management AS grew its position in AppLovin by 1.6% in the second quarter. DNB Asset Management AS now owns 27,042 shares of the company’s stock worth $2,250,000 after acquiring an additional 438 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of AppLovin by 19.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,539 shares of the company’s stock worth $128,000 after purchasing an additional 254 shares during the period. American Trust increased its position in shares of AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after purchasing an additional 150 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in AppLovin by 4,123.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 128,222 shares of the company’s stock valued at $8,726,000 after buying an additional 125,186 shares during the period. Finally, Cetera Advisors LLC bought a new stake in AppLovin in the first quarter worth $675,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APP. Stifel Nicolaus upped their price target on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. Daiwa Capital Markets assumed coverage on AppLovin in a report on Monday, April 15th. They issued a “neutral” rating and a $80.00 target price on the stock. Finally, BTIG Research lifted their target price on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.72.

Read Our Latest Report on AppLovin

About AppLovin

(Get Free Report)

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.

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