AppLovin (NASDAQ:APP) Trading Up 3.4% – Here’s What Happened

Shares of AppLovin Co. (NASDAQ:APP) rose 3.4% on Monday . The stock traded as high as $304.00 and last traded at $302.93. Approximately 2,899,635 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 5,179,792 shares. The stock had previously closed at $292.89.

Wall Street Analyst Weigh In

APP has been the topic of several recent research reports. Citigroup upped their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Loop Capital upped their price target on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus increased their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Performance

The stock has a market capitalization of $94.79 billion, a P/E ratio of 61.42, 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 has a fifty day moving average price of $355.01 and a 200-day moving average price of $272.03.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the 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 transaction, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. 111 Capital bought a new position in shares of AppLovin in the fourth quarter worth about $1,142,000. Wealth Enhancement Advisory Services LLC grew its position in shares of AppLovin by 2.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 105,925 shares of the company’s stock worth $34,302,000 after purchasing an additional 2,793 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in shares of AppLovin during the fourth quarter worth about $283,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of AppLovin during the fourth quarter worth about $21,804,000. Finally, Centaurus Financial Inc. grew its position in shares of AppLovin by 3.7% during the fourth quarter. Centaurus Financial Inc. now owns 27,601 shares of the company’s stock worth $8,938,000 after purchasing an additional 997 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

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.