AppLovin Sees Unusually High Options Volume (NASDAQ:APP)

AppLovin Corporation (NASDAQ:APP) was the recipient of some unusual options trading activity on Friday. Stock traders acquired 47,438 call options on the stock. This represents an increase of approximately 32% compared to the average volume of 35,993 call options.

Wall Street Analyst Weigh In

APP has been the topic of a number of recent research reports. UBS Group lowered their target price on AppLovin from $798.00 to $790.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Raymond James Financial initiated coverage on AppLovin in a report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price target for the company. Morgan Stanley lowered their price target on AppLovin from $720.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada dropped their price objective on AppLovin from $700.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Finally, Scotiabank reaffirmed a “sector outperform” rating and set a $515.00 price objective on shares of AppLovin in a research report on Thursday, August 6th. Three 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $552.74.

Insider Activity at AppLovin

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the sale, the director owned 120,444 shares in the company, valued at $62,786,252.76. This represents a 2.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 294,228 shares of company stock worth $148,403,985 in the last quarter. 12.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin during the 4th quarter worth about $294,000. Bison Wealth LLC acquired a new stake in AppLovin in the 4th quarter valued at approximately $239,000. Integrated Wealth Concepts LLC increased its position in AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after buying an additional 621 shares during the period. NewEdge Advisors LLC increased its position in AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after buying an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after buying an additional 9,380 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock traded up $5.64 during trading hours on Friday, reaching $318.27. 4,924,593 shares of the company were exchanged, compared to its average volume of 5,715,297. AppLovin has a 12 month low of $297.50 and a 12 month high of $745.61. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average of $412.57 and a 200 day moving average of $445.16. The firm has a market cap of $106.51 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 0.62 and a beta of 2.54.

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

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.