AppLovin (NASDAQ:APP) Trading Up 0.7% – What’s Next?

AppLovin Co. (NASDAQ:APP)’s stock price shot up 0.7% during trading on Monday . The company traded as high as $286.83 and last traded at $278.69. 2,462,187 shares were traded during mid-day trading, a decline of 58% from the average session volume of 5,872,145 shares. The stock had previously closed at $276.83.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on AppLovin from $538.00 to $386.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. UBS Group lowered their target price on shares of AppLovin from $630.00 to $450.00 and set a “buy” rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group cut their price target on shares of AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Finally, Arete Research set a $200.00 target price on AppLovin in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $414.05.

AppLovin Stock Performance

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $95.82 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm’s fifty day moving average is $291.16 and its 200 day moving average is $302.14.

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

Insiders Place Their Bets

In related news, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in APP. FMR LLC boosted its position in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $1,781,922,000. Geode Capital Management LLC grew its position in shares of AppLovin by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock valued at $1,462,144,000 after buying an additional 573,310 shares during the last quarter. Baillie Gifford & Co. boosted its stake in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of AppLovin by 68.0% in the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock valued at $977,639,000 after purchasing an additional 1,222,074 shares during the period. 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.