AppLovin (NASDAQ:APP) Sets New 52-Week High at $133.18

Shares of AppLovin Co. (NASDAQ:APP) hit a new 52-week high during trading on Thursday . The stock traded as high as $133.18 and last traded at $132.32, with a volume of 158723 shares changing hands. The stock had previously closed at $131.36.

Analyst Ratings Changes

APP has been the subject of a number of analyst reports. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Benchmark boosted their target price on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. Jefferies Financial Group raised their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Macquarie restated an “outperform” rating and set a $150.00 target price (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. Finally, Bank of America lifted their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $106.44.

AppLovin Trading Up 2.7 %

The firm has a market capitalization of $44.39 billion, a price-to-earnings ratio of 78.19, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88. The business’s 50 day moving average price is $95.35 and its 200-day moving average price is $84.14. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. Equities analysts forecast that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the transaction, the director now directly owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold 728,933 shares of company stock valued at $61,807,117 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently modified their holdings of the company. Treasurer of the State of North Carolina lifted its stake in shares of AppLovin by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 96,140 shares of the company’s stock worth $3,831,000 after purchasing an additional 807 shares in the last quarter. First Trust Advisors LP grew its position in AppLovin by 42.6% in the fourth quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock valued at $91,605,000 after acquiring an additional 686,258 shares in the last quarter. Point72 Europe London LLP purchased a new stake in shares of AppLovin during the fourth quarter valued at approximately $2,286,000. Bridgefront Capital LLC acquired a new position in shares of AppLovin during the fourth quarter worth $599,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of AppLovin in the fourth quarter valued at $1,578,000. 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.