AppLovin (NASDAQ:APP) Trading 4.8% Higher – What’s Next?

AppLovin Co. (NASDAQ:APP)’s stock price was up 4.8% on Friday . The company traded as high as $286.91 and last traded at $274.31. Approximately 7,684,063 shares changed hands during trading, an increase of 43% from the average daily volume of 5,368,089 shares. The stock had previously closed at $261.70.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APP. UBS Group lifted their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. FBN Securities started coverage on shares of AppLovin in a report on Friday. They set an “outperform” rating and a $385.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Stock Performance

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 company has a market cap of $93.15 billion, a PE ratio of 60.97, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The firm has a fifty day simple moving average of $353.26 and a 200-day simple moving average of $280.42.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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%. On average, research analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

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 value of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

A number of hedge funds have recently added to or reduced their stakes in APP. Mascagni Wealth Management Inc. acquired a new stake in shares of AppLovin in the 4th quarter valued at approximately $88,000. 111 Capital acquired a new stake in AppLovin in the fourth quarter valued at $1,142,000. Wealth Enhancement Advisory Services LLC boosted 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 worth $34,302,000 after purchasing an additional 2,793 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new position in shares of AppLovin during the 4th quarter worth $283,000. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of AppLovin in the 4th quarter valued at about $21,804,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.