AppLovin (NASDAQ:APP) Trading 2.2% Higher

AppLovin Co. (NASDAQ:APPGet Free Report) traded up 2.2% on Friday . The stock traded as high as $77.67 and last traded at $77.29. 788,662 shares were traded during trading, a decline of 82% from the average session volume of 4,281,794 shares. The stock had previously closed at $75.65.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. BTIG Research boosted their target price on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Jefferies Financial Group boosted their target price on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. Finally, Daiwa Capital Markets initiated coverage on AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.72.

View Our Latest Stock Analysis on APP

AppLovin Stock Up 1.9 %

The firm has a market capitalization of $25.37 billion, a PE ratio of 45.03, a PEG ratio of 1.29 and a beta of 1.88. The company has a fifty day simple moving average of $77.75 and a two-hundred day simple moving average of $59.68. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11.

AppLovin (NASDAQ:APPGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. During the same period in the prior year, the business earned ($0.01) EPS. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. Analysts forecast that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the sale, the insider now directly owns 448,490 shares in the company, valued at approximately $36,493,631.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the transaction, the insider now directly owns 448,490 shares of the company’s stock, valued at approximately $36,493,631.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the transaction, the insider now directly owns 366,567 shares in the company, valued at $30,557,025.12. The disclosure for this sale can be found here. Insiders sold 17,726,239 shares of company stock worth $1,477,034,958 in the last three months. 14.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APP. CWM LLC increased its holdings in shares of AppLovin by 16.3% in the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after purchasing an additional 401 shares during the period. Contrarius Investment Management Ltd acquired a new position in shares of AppLovin in the fourth quarter valued at about $7,334,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of AppLovin in the fourth quarter valued at about $2,284,000. Ameriprise Financial Inc. increased its holdings in shares of AppLovin by 4,805.9% in the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock valued at $56,050,000 after purchasing an additional 1,374,066 shares during the period. Finally, Cunning Capital Partners LP acquired a new position in shares of AppLovin in the fourth quarter valued at about $1,508,000. 41.85% of the stock is owned by institutional investors and hedge funds.

About AppLovin

(Get Free Report)

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.

Further Reading

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