AppLovin (NASDAQ:APP) Stock Price Up 5.5% – Here’s Why

Shares of AppLovin Co. (NASDAQ:APPGet Free Report) shot up 5.5% during trading on Wednesday . The stock traded as high as $342.36 and last traded at $338.60. 1,592,956 shares were traded during mid-day trading, a decline of 61% from the average session volume of 4,055,584 shares. The stock had previously closed at $321.09.

Analyst Ratings Changes

APP has been the subject of several recent research reports. Bank of America raised their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $103.00 to $150.00 in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Benchmark began coverage on AppLovin in a research report on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $338.06.

Get Our Latest Stock Analysis on APP

AppLovin Price Performance

The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $114.89 billion, a PE ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. The stock’s 50 day moving average is $329.70 and its two-hundred day moving average is $186.54.

AppLovin (NASDAQ:APPGet Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, equities analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of APP. WCM Investment Management LLC raised its position in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the period. FMR LLC increased its stake in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Lone Pine Capital LLC raised its position in AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after purchasing an additional 382,767 shares during the period. State Street Corp lifted its stake in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

About AppLovin

(Get Free Report)

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.

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