AppLovin (NASDAQ:APP) Trading Up 0.9% – What’s Next?

Shares of AppLovin Co. (NASDAQ:APP) were up 0.9% during mid-day trading on Friday . The stock traded as high as $349.39 and last traded at $344.94. Approximately 1,297,630 shares changed hands during trading, a decline of 57% from the average daily volume of 2,997,097 shares. The stock had previously closed at $341.78.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.71.

AppLovin Trading Up 2.0 %

The business has a 50-day moving average of $298.25 and a 200-day moving average of $169.08. 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 stock has a market cap of $116.95 billion, a price-to-earnings ratio of 105.61, a PEG ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 in the last 90 days. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in shares of AppLovin during the third quarter valued at $25,000. DT Investment Partners LLC bought a new position in AppLovin during the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the third quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in AppLovin during the third quarter worth about $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin during the second quarter worth approximately $33,000. 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.