AppLovin (NASDAQ:APP) Trading Up 1.7% After Analyst Upgrade

AppLovin Co. (NASDAQ:APP - Get Free Report)'s stock price shot up 1.7% on Tuesday after Wells Fargo & Company raised their price target on the stock from $360.00 to $366.00. Wells Fargo & Company currently has an overweight rating on the stock. AppLovin traded as high as $328.50 and last traded at $321.05. 954,513 shares changed hands during trading, a decline of 77% from the average session volume of 4,087,276 shares. The stock had previously closed at $315.68.

Several other analysts also recently weighed in on APP. UBS Group raised shares of AppLovin from a "neutral" rating to a "buy" rating and lifted their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. BTIG Research increased their target price on AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Citigroup upped their price target on shares of AppLovin from $335.00 to $460.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Piper Sandler began coverage on AppLovin in a research report on Wednesday, November 20th. They set an "overweight" rating and a $400.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $338.06.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company's stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of APP. National Bank of Canada FI boosted its stake in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company's stock valued at $131,000 after purchasing an additional 39 shares in the last quarter. Versant Capital Management Inc lifted its holdings in AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company's stock valued at $104,000 after buying an additional 53 shares during the period. Great Valley Advisor Group Inc. lifted its stake in shares of AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company's stock valued at $370,000 after purchasing an additional 60 shares during the period. HM Payson & Co. grew its position in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company's stock worth $39,000 after buying an additional 100 shares during the period. Finally, Aptus Capital Advisors LLC grew its holdings in shares of AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company's stock valued at $4,371,000 after buying an additional 104 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 1.7 %

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a fifty day simple moving average of $321.54 and a two-hundred day simple moving average of $182.80. The stock has a market capitalization of $107.76 billion, a P/E ratio of 97.30, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $0.30 EPS. AppLovin's revenue for the quarter was up 38.6% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current year.

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.