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

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on APP shares. Citigroup increased their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Thursday, February 13th. Stifel Nicolaus raised their price target on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an "overweight" rating in a research note on Thursday, February 27th. Finally, UBS Group upped their price target on shares of AppLovin from $440.00 to $630.00 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 given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $438.28.

AppLovin Stock 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 company has a market cap of $99.57 billion, a PE ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The business has a fifty day simple moving average of $357.00 and a two-hundred day simple moving average of $267.94.

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

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction 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. The trade was a 1.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 372,205 shares of the company's stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 322,871 shares of company stock valued at $111,401,882 in the last 90 days. Insiders own 14.69% of the company's stock.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently bought and sold shares of APP. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the 4th quarter valued at $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin during the fourth quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the third quarter valued at $27,000. Riverview Trust Co grew its position in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares during the period. Finally, Tucker Asset Management LLC purchased a new position in shares of AppLovin during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors 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.