AppLovin (NASDAQ:APP) Trading Up 4.2% – Here’s Why

AppLovin Co. (NASDAQ:APP) rose 4.2% during trading on Thursday . The stock traded as high as $313.00 and last traded at $309.38. Approximately 2,924,442 shares were traded during trading, a decline of 44% from the average daily volume of 5,202,317 shares. The stock had previously closed at $297.03.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APP. Citigroup boosted their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Jefferies Financial Group boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler boosted their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Bank of America boosted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, UBS Group boosted their target price on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Price Performance

The firm has a market cap of $103.36 billion, a PE ratio of 66.78, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The stock’s fifty day moving average price is $354.37 and its 200-day moving average price is $272.20. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

Insider Activity

In other news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. 111 Capital acquired a new position in AppLovin in the fourth quarter valued at about $1,142,000. Wealth Enhancement Advisory Services LLC lifted its position in AppLovin by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 105,925 shares of the company’s stock valued at $34,302,000 after buying an additional 2,793 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new position in AppLovin in the fourth quarter valued at about $283,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in AppLovin in the fourth quarter valued at about $21,804,000. Finally, Centaurus Financial Inc. lifted its position in AppLovin by 3.7% in the fourth quarter. Centaurus Financial Inc. now owns 27,601 shares of the company’s stock valued at $8,938,000 after buying an additional 997 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Company Profile

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.