AppLovin (NASDAQ:APP) Stock Price Up 0.8% – Here’s What Happened

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

Analysts Set New Price Targets

A number of brokerages have issued reports on APP. Oppenheimer reiterated an “outperform” rating and set a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. BTIG Research increased their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Loop Capital boosted their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their target price on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $338.06.

AppLovin Stock Down 0.2 %

The firm has a market capitalization of $112.16 billion, a price-to-earnings ratio of 101.09, a PEG ratio of 2.68 and a beta of 2.29. The business’s fifty day moving average price is $327.99 and its 200 day moving average price is $185.52. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. On average, equities analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its stake in AppLovin by 139.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after buying an additional 89 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin in the third quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the third quarter valued at $27,000. DT Investment Partners LLC purchased a new stake in AppLovin during the 3rd quarter worth about $27,000. Finally, Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at about $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.