AppLovin Sees Unusually High Options Volume (NASDAQ:APP)

AppLovin Corporation (NASDAQ:APP) was the target of unusually large options trading activity on Friday. Investors purchased 47,438 call options on the company. This is an increase of approximately 32% compared to the typical daily volume of 35,993 call options.

AppLovin Price Performance

Shares of AppLovin stock traded up $5.64 during midday trading on Friday, hitting $318.27. 4,924,593 shares of the company were exchanged, compared to its average volume of 5,715,297. The firm has a 50 day simple moving average of $412.57 and a 200-day simple moving average of $445.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30. The firm has a market cap of $106.51 billion, a P/E ratio of 24.46, a PEG ratio of 0.62 and a beta of 2.54. AppLovin has a 52 week low of $297.50 and a 52 week high of $745.61.

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

Analyst Upgrades and Downgrades

Several research firms have commented on APP. Wells Fargo & Company cut their price target on AppLovin from $357.00 to $325.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Royal Bank Of Canada lowered their price objective on AppLovin from $700.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Raymond James Financial began coverage on AppLovin in a research note on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 target price for the company. Finally, Phillip Securities raised AppLovin from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $552.74.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the transaction, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This 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 valued at $148,403,985 in the last 90 days. 12.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in AppLovin during the 4th quarter valued at about $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin in the 4th quarter worth approximately $239,000. Integrated Wealth Concepts LLC grew its position in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares during the last quarter. NewEdge Advisors LLC increased its holdings in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in AppLovin by 7.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

About AppLovin

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.