AppLovin (NASDAQ:APP) Trading 6.3% Higher – Here’s What Happened

AppLovin Co. (NASDAQ:APP) shares traded up 6.3% during mid-day trading on Monday . The stock traded as high as $338.74 and last traded at $333.75. 3,143,534 shares were traded during trading, a decline of 59% from the average session volume of 7,590,653 shares. The stock had previously closed at $314.03.

Wall Street Analyst Weigh In

A number of research analysts recently commented on APP shares. UBS Group boosted their price target on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Benchmark increased their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Loop Capital boosted their price objective on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Finally, Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Performance

The company has a market cap of $114.61 billion, a PE ratio of 73.99, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s fifty day moving average is $353.83 and its 200-day moving average is $276.60.

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

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on 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 approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the sale, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 in the last 90 days. 14.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Pathstone Holdings LLC increased its stake in AppLovin by 5.5% during the 3rd quarter. Pathstone Holdings LLC now owns 19,866 shares of the company’s stock worth $2,594,000 after buying an additional 1,042 shares during the period. Prospera Financial Services Inc purchased a new position in AppLovin in the third quarter valued at approximately $294,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in AppLovin during the third quarter worth approximately $714,000. Commerce Bank lifted its position in shares of AppLovin by 2.6% during the 3rd quarter. Commerce Bank now owns 8,782 shares of the company’s stock worth $1,146,000 after buying an additional 221 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of AppLovin by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock valued at $89,000 after buying an additional 322 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.