AppLovin (NASDAQ:APP) Trading Up 4.8% on Analyst Upgrade

AppLovin Co. (NASDAQ:APP - Get Free Report)'s stock price rose 4.8% during mid-day trading on Monday after Loop Capital raised their price target on the stock from $385.00 to $450.00. Loop Capital currently has a buy rating on the stock. AppLovin traded as high as $346.26 and last traded at $340.06. Approximately 1,876,316 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 4,572,532 shares. The stock had previously closed at $324.47.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group lowered shares of AppLovin from a "buy" rating to a "neutral" rating and boosted their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. Benchmark reaffirmed a "sell" rating and set a $66.00 price target on shares of AppLovin in a research report on Thursday, November 7th. Daiwa Capital Markets upgraded AppLovin from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. BTIG Research lifted their target price on AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on AppLovin from $160.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $296.40.

Insider Buying and Selling at AppLovin

In other news, Director Craig Scott Billings sold 18,000 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the sale, the director now directly owns 2,987 shares in the company, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company's stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 872,896 shares of company stock valued at $279,773,021 in the last 90 days. Company insiders own 14.69% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APP. Townsquare Capital LLC boosted its position in shares of AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock valued at $1,037,000 after purchasing an additional 3,126 shares during the period. Second Half Financial Partners LLC purchased a new stake in AppLovin in the third quarter valued at approximately $224,000. State Street Corp boosted its holdings in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. grew its position in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company's stock worth $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management increased its holdings in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company's stock valued at $13,854,000 after acquiring an additional 81,331 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

The stock has a market cap of $115.43 billion, a PE ratio of 104.23, a P/E/G ratio of 4.17 and a beta of 2.28. The firm's 50-day moving average is $250.08 and its 200 day moving average is $147.07. 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 data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $0.30 earnings per share. AppLovin's quarterly revenue was up 38.6% on a year-over-year basis. As a group, research analysts anticipate that AppLovin Co. will post 4.06 EPS 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.