AppLovin (NASDAQ:APP) Stock Price Up 5.2% – Here’s What Happened

by · The Markets Daily

AppLovin Co. (NASDAQ:APP – Get Free Report)’s stock price was up 5.2% during trading on Friday . The company traded as high as $339.39 and last traded at $335.19. Approximately 1,774,696 shares traded hands during trading, a decline of 61% from the average daily volume of 4,609,092 shares. The stock had previously closed at $318.74.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Jefferies Financial Group raised their price target on shares of AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Loop Capital boosted their price objective on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday. BTIG Research boosted their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup increased their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.71.

Check Out Our Latest Research Report on AppLovin

AppLovin Stock Performance

The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a fifty day simple moving average of $260.84 and a two-hundred day simple moving average of $151.19. The stock has a market cap of $113.35 billion, a PE ratio of 102.35, a PEG ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue was up 38.6% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. Equities analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now directly owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 872,896 shares of company stock valued at $279,773,021. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of APP. Nisa Investment Advisors LLC increased its holdings in shares of AppLovin by 426.7% during the second quarter. Nisa Investment Advisors LLC now owns 21,067 shares of the company’s stock valued at $1,753,000 after purchasing an additional 17,067 shares during the period. Yeomans Consulting Group Inc. acquired a new position in shares of AppLovin during the second quarter valued at approximately $417,000. WT Asset Management Ltd bought a new stake in shares of AppLovin in the 2nd quarter worth $12,433,000. Bank of New York Mellon Corp boosted its stake in AppLovin by 13.1% during the second quarter. Bank of New York Mellon Corp now owns 964,068 shares of the company’s stock valued at $80,230,000 after buying an additional 111,718 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of AppLovin during the second quarter worth $84,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

(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.

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