AppLovin (NASDAQ:APP) Shares Up 4.4% on Analyst Upgrade

AppLovin Co. (NASDAQ:APP)’s share price was up 4.4% during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $270.00 to $400.00. Jefferies Financial Group currently has a buy rating on the stock. AppLovin traded as high as $334.74 and last traded at $333.76. Approximately 677,643 shares changed hands during trading, a decline of 85% from the average daily volume of 4,450,122 shares. The stock had previously closed at $319.59.

A number of other analysts have also recently commented on the stock. Bank of America upped their price objective on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Loop Capital raised their price target on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their target price on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Citigroup lifted their price target on shares of AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’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 completion of the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 12.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock worth $233,072,408 over the last ninety days. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. Fred Alger Management LLC bought a new stake in AppLovin during the second quarter worth about $290,655,000. 1832 Asset Management L.P. grew its stake in AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after buying an additional 1,357,400 shares in the last quarter. WCM Investment Management LLC increased its holdings in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after buying an additional 560,560 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 3.2 %

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $110.67 billion, a price-to-earnings ratio of 99.93, a PEG ratio of 4.11 and a beta of 1.86. The firm’s 50-day moving average price is $185.37 and its 200 day moving average price is $119.37.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating 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 business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin Co. will post 4.05 EPS for the current fiscal year.

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.