AppLovin (NASDAQ:APP) Trading Up 8.8% - Here's Why

AppLovin Co. (NASDAQ:APP - Get Free Report) shares were up 8.8% on Friday . The stock traded as high as $292.94 and last traded at $295.94. Approximately 3,978,200 shares were traded during trading, a decline of 23% from the average daily volume of 5,158,006 shares. The stock had previously closed at $272.00.

Analysts Set New Price Targets

Several equities analysts recently weighed in on APP shares. The Goldman Sachs Group raised their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Thursday, February 13th. Citigroup increased their price target on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Benchmark increased their price target on AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $438.28.

AppLovin Price Performance

The stock has a fifty day moving average of $357.00 and a 200-day moving average of $267.94. 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 firm has a market capitalization of $99.57 billion, a P/E ratio of 64.51, a PEG ratio of 3.02 and a beta of 2.33.

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AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares of the company's stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

A number of institutional investors and hedge funds have recently modified their holdings of APP. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Riverview Trust Co increased its stake in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Finally, Tucker Asset Management LLC bought a new stake in AppLovin during the 4th quarter worth approximately $28,000. 41.85% of the stock is owned by institutional investors.

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.