AppLovin (NASDAQ:APP) Trading Up 1.5% - Here's Why

AppLovin Co. (NASDAQ:APP - Get Free Report) shares shot up 1.5% during mid-day trading on Friday . The stock traded as high as $277.00 and last traded at $272.00. 2,439,670 shares changed hands during trading, a decline of 70% from the average session volume of 8,192,791 shares. The stock had previously closed at $267.88.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APP. UBS Group reduced their price target on AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Loop Capital reaffirmed a "buy" rating and set a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Monday, April 21st. Bank of America increased their target price on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Piper Sandler lowered their price target on AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $414.05.

AppLovin Stock Up 3.3 %

The firm has a market capitalization of $94.11 billion, a P/E ratio of 60.98, a P/E/G ratio of 3.02 and a beta of 2.39. The stock has a fifty day moving average price of $291.16 and a two-hundred day moving average price of $302.14. 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 posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 over the last three months. Company insiders own 14.69% of the company's stock.

Hedge Funds Weigh In On AppLovin

Large investors have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. increased its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Norges Bank acquired a new stake in AppLovin during the 4th quarter worth about $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after buying an additional 2,373,885 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.