AppLovin (NASDAQ:APP) Trading 0.8% Higher – Here’s Why

AppLovin Co. (NASDAQ:APP)’s share price traded up 0.8% during trading on Thursday . The stock traded as high as $341.14 and last traded at $337.74. 784,231 shares were traded during trading, a decline of 80% from the average session volume of 3,958,530 shares. The stock had previously closed at $335.03.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Piper Sandler assumed coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. BTIG Research lifted their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Finally, Jefferies Financial Group lifted their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $338.06.

AppLovin Trading Up 3.1 %

The stock has a fifty day moving average of $330.75 and a 200 day moving average of $188.33. The company has a market capitalization of $114.89 billion, a P/E ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.30 EPS. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities research analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Several institutional investors have recently added to or reduced their stakes in APP. Quest Partners LLC bought a new stake in AppLovin in the second quarter worth about $33,000. American Century Companies Inc. lifted its stake in AppLovin by 80.1% in the second quarter. American Century Companies Inc. now owns 232,378 shares of the company’s stock worth $19,338,000 after purchasing an additional 103,335 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in AppLovin by 695.0% in the second quarter. Envestnet Asset Management Inc. now owns 549,453 shares of the company’s stock worth $45,725,000 after purchasing an additional 480,336 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in AppLovin by 3.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 186,395 shares of the company’s stock worth $15,512,000 after purchasing an additional 5,483 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of AppLovin by 27.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock valued at $124,372,000 after acquiring an additional 322,563 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

About AppLovin

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.