AppLovin (NASDAQ:APP) Shares Up 4.2% – Here’s What Happened

AppLovin Co. (NASDAQ:APP)’s stock price was up 4.2% during trading on Thursday . The stock traded as high as $313.00 and last traded at $309.38. Approximately 2,924,442 shares were traded during trading, a decline of 44% from the average daily volume of 5,202,317 shares. The stock had previously closed at $297.03.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APP shares. Benchmark boosted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Loop Capital boosted their price objective on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Macquarie boosted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Trading Up 2.4 %

The company has a market cap of $103.36 billion, a P/E ratio of 66.78, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s 50-day moving average is $354.37 and its two-hundred day moving average is $272.20.

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

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter worth approximately $25,000. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin in the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter valued at approximately $27,000. Riverview Trust Co lifted its stake in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Finally, Tucker Asset Management LLC acquired a new stake in AppLovin during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.