AppLovin (NASDAQ:APP) Trading Up 1.5% – What’s Next?

AppLovin Corporation (NASDAQ:APP)’s stock price rose 1.5% during mid-day trading on Thursday . The stock traded as high as $315.88 and last traded at $312.63. Approximately 3,998,344 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 5,720,612 shares. The stock had previously closed at $308.11.

Wall Street Analyst Weigh In

Several brokerages have weighed in on APP. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Phillip Securities raised AppLovin from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research report on Wednesday, June 10th. UBS Group cut their target price on AppLovin from $798.00 to $790.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Wedbush reduced their price target on shares of AppLovin from $640.00 to $610.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $552.74.

AppLovin Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The company has a market cap of $104.62 billion, a PE ratio of 24.03, a P/E/G ratio of 0.62 and a beta of 2.54. The stock’s 50-day simple moving average is $415.71 and its 200 day simple moving average is $445.83.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.76. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.39 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 15.53 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the transaction, the director directly owned 120,444 shares in the company, valued at approximately $62,786,252.76. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the sale, the chief executive officer owned 2,327,684 shares in the company, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 294,228 shares of company stock worth $148,403,985 in the last ninety days. Corporate insiders own 12.81% of the company’s stock.

Institutional Trading of AppLovin

Institutional investors and hedge funds have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC purchased a new stake in AppLovin during the 1st quarter worth about $25,000. Washington Trust Advisors Inc. increased its stake in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in AppLovin during the 4th quarter worth approximately $27,000. Pioneer Family Office LLC purchased a new stake in AppLovin during the second quarter worth approximately $31,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.