AppLovin (NASDAQ:APP) Trading 6.4% Higher

Shares of AppLovin Co. (NASDAQ:APP) were up 6.4% during trading on Friday . The company traded as high as $74.50 and last traded at $73.64. Approximately 1,731,968 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 4,045,721 shares. The stock had previously closed at $69.21.

Wall Street Analyst Weigh In

A number of equities analysts have commented on APP shares. Morgan Stanley lifted their target price on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. BTIG Research boosted their price objective on AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Daiwa Capital Markets initiated coverage on AppLovin in a report on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. Finally, Wedbush boosted their target price on AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.31.

AppLovin Price Performance

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 stock has a market capitalization of $25.25 billion, a P/E ratio of 73.73, a PEG ratio of 1.40 and a beta of 1.90. The company’s 50 day simple moving average is $66.85 and its two-hundred day simple moving average is $49.74.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $928.66 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. AppLovin’s revenue was up 35.7% compared to the same quarter last year. As a group, equities analysts expect that AppLovin Co. will post 2.49 EPS for the current fiscal year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm’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 value of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now owns 12,739 shares in the company, valued at $743,065.87. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock valued at $4,416,815 over the last three months. 12.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of AppLovin by 16.5% during the 3rd quarter. CWM LLC now owns 2,463 shares of the company’s stock worth $98,000 after buying an additional 348 shares during the period. AE Wealth Management LLC bought a new stake in shares of AppLovin during the 3rd quarter worth about $479,000. SG Americas Securities LLC bought a new stake in shares of AppLovin during the 3rd quarter worth about $1,038,000. Exchange Traded Concepts LLC boosted its holdings in shares of AppLovin by 127.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 55,430 shares of the company’s stock worth $2,215,000 after buying an additional 31,007 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in AppLovin by 25.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 24,400 shares of the company’s stock worth $975,000 after purchasing an additional 4,900 shares in the last quarter. 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.