AppLovin (NASDAQ:APP) Stock Price Up 1.2% – What’s Next?

AppLovin Co. (NASDAQ:APP)’s stock price was up 1.2% during trading on Wednesday . The company traded as high as $288.88 and last traded at $286.07. Approximately 1,631,361 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 5,508,887 shares. The stock had previously closed at $282.70.

Analyst Ratings Changes

APP has been the subject of several recent analyst reports. Benchmark upped their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. Finally, FBN Securities assumed coverage on AppLovin in a report on Friday, March 28th. They issued an “outperform” rating and a $385.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $435.47.

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 firm has a market capitalization of $99.74 billion, a price-to-earnings ratio of 64.62, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The firm’s 50-day moving average price is $349.20 and its two-hundred day moving average price is $286.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

Institutional Trading of AppLovin

Several large investors have recently made changes to their positions in APP. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the 4th quarter valued at $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin in the fourth quarter valued at about $25,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC acquired a new position in AppLovin during the 4th quarter valued at about $28,000. Finally, Hemington Wealth Management boosted its stake in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Institutional investors 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.