AppLovin Co. (NASDAQ:APP - Get Free Report) shares shot up 0.8% during trading on Thursday . The stock traded as high as $341.14 and last traded at $337.74. 784,231 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 3,958,530 shares. The stock had previously closed at $335.03.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Daiwa America upgraded AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. The Goldman Sachs Group cut shares of AppLovin from a "buy" rating to a "neutral" rating and raised their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. BTIG Research boosted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Oppenheimer restated an "outperform" rating and issued a $480.00 target price on shares of AppLovin in a research note on Tuesday, December 10th. Finally, Benchmark initiated coverage on AppLovin in a research report on Friday, January 10th. They set a "buy" rating and a $375.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and a consensus target price of $338.06.
Check Out Our Latest Stock Report on APP
AppLovin Stock Performance
The firm's 50 day moving average is $327.99 and its 200-day moving average is $185.52. The stock has a market capitalization of $112.16 billion, a price-to-earnings ratio of 101.09, a PEG ratio of 2.68 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.
AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The company's revenue was up 38.6% compared to the same quarter last year. Analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.
Insider Activity
In related news, CTO Vasily Shikin sold 593,588 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares of the company's stock, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company's stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 over the last three months. 14.69% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On AppLovin
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its stake in shares of AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company's stock worth $131,000 after buying an additional 39 shares in the last quarter. Versant Capital Management Inc boosted its stake in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company's stock worth $104,000 after buying an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of AppLovin by 2.2% in the third 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. MassMutual Private Wealth & Trust FSB raised its position in shares of AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company's stock valued at $50,000 after buying an additional 89 shares during the period. Finally, HM Payson & Co. grew its position in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company's stock worth $39,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.
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.
See Also
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