AppLovin (NASDAQ:APP) Stock Price Up 4.8% After Analyst Upgrade

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) shot up 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. 1,876,316 shares were traded during mid-day trading, a decline of 59% from the average session volume of 4,572,532 shares. The stock had previously closed at $324.47.

Other analysts have also issued reports about the stock. Daiwa America upgraded shares of AppLovin from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. BTIG Research raised their target price on AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on AppLovin from $250.00 to $360.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. The Goldman Sachs Group lowered AppLovin from a "buy" rating to a "neutral" rating and raised their price objective for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Finally, Bank of America upped their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $296.40.

Insiders Place Their Bets

In related news, Director Herald Y. Chen sold 99,000 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % 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 1,676 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 872,896 shares of company stock worth $279,773,021. Company insiders own 14.69% of the company's stock.

Institutional Trading of 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 AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company's stock worth $131,000 after purchasing an additional 39 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company's stock valued at $370,000 after buying an additional 60 shares in the last quarter. HM Payson & Co. grew its holdings in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company's stock valued at $39,000 after buying an additional 100 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in shares of AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company's stock valued at $4,371,000 after acquiring an additional 104 shares during the last quarter. Finally, Ashton Thomas Securities LLC grew its holdings in shares of AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company's stock valued at $626,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm's 50-day moving average is $250.08 and its two-hundred day moving average is $147.07. The company has a market cap of $115.43 billion, a P/E ratio of 104.23, a PEG ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP - Get Free Report) last issued 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 last year, the company earned $0.30 earnings per share. AppLovin's revenue was up 38.6% on a year-over-year basis. Analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current year.

About AppLovin

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.