AppLovin (NASDAQ:APP) Stock Price Up 6.3% – Here’s Why

AppLovin Co. (NASDAQ:APP)’s share price traded up 6.3% on Monday . The stock traded as high as $338.74 and last traded at $333.75. 3,143,534 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 7,590,653 shares. The stock had previously closed at $314.03.

Analyst Ratings Changes

APP has been the topic of several research analyst reports. Bank of America lifted their price target on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Oppenheimer restated an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Benchmark raised their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Stock Up 7.4 %

The stock’s fifty day simple moving average is $353.83 and its two-hundred day simple moving average is $276.60. The company has a market capitalization of $114.61 billion, a price-to-earnings ratio of 73.99, a P/E/G ratio of 3.02 and a beta of 2.33. 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) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new position in AppLovin during the 4th quarter valued at about $88,000. 111 Capital acquired a new stake in AppLovin during the 4th quarter worth $1,142,000. Wealth Enhancement Advisory Services LLC raised its position in shares of AppLovin by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 105,925 shares of the company’s stock valued at $34,302,000 after acquiring an additional 2,793 shares during the last quarter. NorthCrest Asset Manangement LLC bought a new position in shares of AppLovin in the 4th quarter worth $283,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in AppLovin in the 4th quarter valued at approximately $21,804,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.