AppLovin (NASDAQ:APP) Shares Up 4.6%

AppLovin Co. (NASDAQ:APPGet Free Report) rose 4.6% during mid-day trading on Wednesday . The stock traded as high as $72.98 and last traded at $72.95. Approximately 1,904,584 shares traded hands during trading, a decline of 54% from the average daily volume of 4,161,314 shares. The stock had previously closed at $69.72.

Analyst Ratings Changes

APP has been the subject of several research reports. Wedbush boosted their price objective on shares of AppLovin from $58.50 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. UBS Group upped their target price on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. The Goldman Sachs Group increased their price objective on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, HSBC initiated coverage on shares of AppLovin in a research note on Monday, December 18th. They issued a “buy” rating and a $53.20 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $50.04.

Check Out Our Latest Research Report on APP

AppLovin Trading Up 4.8 %

The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. The business’s 50-day moving average price is $57.76 and its two-hundred day moving average price is $45.95. The company has a market capitalization of $25.00 billion, a P/E ratio of 73.30, a PEG ratio of 1.39 and a beta of 1.90.

AppLovin (NASDAQ:APPGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same period last year, the business posted ($0.21) earnings per share. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. As a group, analysts forecast that AppLovin Co. will post 2.48 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Craig Scott Billings sold 5,550 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the transaction, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the transaction, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,215 shares of company stock valued at $666,315. Company insiders own 12.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP lifted its stake in shares of AppLovin by 143.1% in the third quarter. Quantbot Technologies LP now owns 116,917 shares of the company’s stock valued at $4,672,000 after buying an additional 68,822 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of AppLovin by 4,805.9% in the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock valued at $56,050,000 after buying an additional 1,374,066 shares in the last quarter. Black Swift Group LLC bought a new position in shares of AppLovin in the third quarter valued at $999,000. Vanguard Group Inc. lifted its stake in shares of AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after buying an additional 1,411,453 shares in the last quarter. Finally, Scout Investments Inc. raised its holdings in shares of AppLovin by 83.2% in the third quarter. Scout Investments Inc. now owns 923,361 shares of the company’s stock valued at $37,692,000 after purchasing an additional 419,221 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

About AppLovin

(Get Free Report)

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.

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