AppLovin (NASDAQ:APP) Trading 5.5% Higher – What’s Next?

Shares of AppLovin Co. (NASDAQ:APP) traded 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

A number of brokerages have issued reports on APP. Oppenheimer reissued an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their price objective on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday. Wedbush restated an “outperform” rating and set a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $338.06.

AppLovin Trading Up 3.1 %

The stock has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29. The business’s 50 day moving average is $329.70 and its 200 day moving average is $186.54. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.30 EPS. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, equities analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last three months. 14.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after acquiring an additional 89 shares during the period. Capital Performance Advisors LLP purchased a new stake in AppLovin in the 3rd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth $27,000. DT Investment Partners LLC purchased a new position in AppLovin during the 3rd quarter worth $27,000. Finally, Avior Wealth Management LLC increased its stake in AppLovin by 54.7% in the fourth quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock valued at $70,000 after purchasing an additional 76 shares during the period. 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.