AppLovin (NASDAQ:APP) Shares Up 6.4%

Shares of AppLovin Co. (NASDAQ:APP) rose 6.4% during trading on Friday . The company traded as high as $74.50 and last traded at $73.64. Approximately 1,731,968 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 4,045,721 shares. The stock had previously closed at $69.21.

Wall Street Analyst Weigh In

APP has been the topic of a number of research reports. Oppenheimer raised their target price on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. BTIG Research raised their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Daiwa Capital Markets initiated coverage on shares of AppLovin in a research note on Monday, April 15th. They issued a “neutral” rating and a $80.00 target price on the stock. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Finally, Wedbush lifted their price target on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $59.31.

AppLovin Price Performance

The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The business’s 50 day simple moving average is $67.13 and its 200-day simple moving average is $50.03. The stock has a market capitalization of $25.25 billion, a price-to-earnings ratio of 73.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.90.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The company had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. During the same period in the previous year, the firm earned ($0.21) EPS. AppLovin’s revenue was up 35.7% on a year-over-year basis. Research analysts anticipate that AppLovin Co. will post 2.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the sale, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the transaction, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock worth $4,416,815 in the last ninety days. 12.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APP. CWM LLC grew its position in AppLovin by 16.5% during the third quarter. CWM LLC now owns 2,463 shares of the company’s stock valued at $98,000 after purchasing an additional 348 shares in the last quarter. AE Wealth Management LLC bought a new stake in AppLovin in the third quarter worth approximately $479,000. SG Americas Securities LLC bought a new stake in AppLovin in the third quarter worth approximately $1,038,000. Handelsbanken Fonder AB grew its position in AppLovin by 25.1% in the third quarter. Handelsbanken Fonder AB now owns 24,400 shares of the company’s stock worth $975,000 after acquiring an additional 4,900 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in AppLovin in the third quarter worth approximately $277,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.