AppLovin (NASDAQ:APP) Stock Price Up 1.7% – What’s Next?

AppLovin Corporation (NASDAQ:APP) shares traded up 1.7% during trading on Monday . The stock traded as high as $738.01 and last traded at $733.60. 3,051,599 shares changed hands during trading, a decline of 55% from the average session volume of 6,808,627 shares. The stock had previously closed at $721.37.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their target price on AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. UBS Group restated a “buy” rating and set a $775.00 price target on shares of AppLovin in a report on Thursday, December 11th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Oppenheimer set a $740.00 price objective on AppLovin in a report on Tuesday, October 7th. Finally, Jefferies Financial Group raised their target price on shares of AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Nineteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $695.90.

AppLovin Trading Down 0.3%

The stock has a market cap of $245.48 billion, a PE ratio of 88.15, a PEG ratio of 3.91 and a beta of 2.51. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. The stock has a fifty day moving average price of $625.22 and a 200 day moving average price of $518.59.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 68.2% compared to the same quarter last year. Equities analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the sale, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares of the company’s stock, valued at approximately $1,328,384,136.69. This trade represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 340,336 shares of company stock valued at $200,062,623 in the last quarter. 13.66% of the stock is owned by insiders.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in APP. Hilltop National Bank purchased a new stake in AppLovin during the second quarter worth $26,000. LFA Lugano Financial Advisors SA bought a new position in shares of AppLovin in the 2nd quarter worth $26,000. Chilton Capital Management LLC purchased a new stake in shares of AppLovin during the 3rd quarter worth $29,000. Activest Wealth Management lifted its stake in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in AppLovin during the second quarter valued at about $33,000. 41.85% of the stock is currently owned by institutional investors.

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.