AppLovin (NASDAQ:APP) Trading Up 0.1% – Here’s What Happened

AppLovin Co. (NASDAQ:APP) was up 0.1% on Tuesday . The company traded as high as $348.00 and last traded at $345.12. Approximately 464,988 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 4,613,685 shares. The stock had previously closed at $344.82.

Analyst Ratings Changes

Several brokerages have recently issued reports on APP. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. Oppenheimer reiterated an “outperform” rating and set a $480.00 price target on shares of AppLovin in a report on Tuesday, December 10th. Benchmark reissued a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Finally, BTIG Research lifted their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.71.

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 company has a market cap of $114.72 billion, a PE ratio of 103.59, a P/E/G ratio of 4.17 and a beta of 2.28. The company has a 50-day moving average price of $268.71 and a two-hundred day moving average price of $155.82.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. Sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by corporate insiders.

Institutional Trading of AppLovin

A number of institutional investors and hedge funds have recently modified their holdings of the business. Townsquare Capital LLC boosted its position in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares during the period. Second Half Financial Partners LLC bought a new stake in AppLovin in the third quarter valued at $224,000. State Street Corp boosted its holdings in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. grew its position in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management increased its holdings in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after acquiring an additional 81,331 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

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.