AppLovin (NASDAQ:APP) Trading 1.7% Higher After Analyst Upgrade

AppLovin Co. (NASDAQ:APP) shares traded up 1.7% on Tuesday after Wells Fargo & Company raised their price target on the stock from $360.00 to $366.00. Wells Fargo & Company currently has an overweight rating on the stock. AppLovin traded as high as $328.50 and last traded at $321.05. 954,513 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 4,087,276 shares. The stock had previously closed at $315.68.

Several other research analysts have also recently commented on the company. BTIG Research raised their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Benchmark assumed coverage on shares of AppLovin in a research report on Friday, January 10th. They set a “buy” rating and a $375.00 target price on the stock. Loop Capital increased their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Citigroup lifted their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $338.06.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last ninety days. 14.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI lifted its stake in AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 shares during the period. Versant Capital Management Inc raised its position in shares of AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares during the period. Great Valley Advisor Group Inc. boosted its stake in AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares during the last quarter. HM Payson & Co. grew its holdings in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Finally, Aptus Capital Advisors LLC increased its stake in AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 1.7 %

The company’s fifty day simple moving average is $324.66 and its two-hundred day simple moving average is $184.47. The company has a market capitalization of $107.76 billion, a price-to-earnings ratio of 97.30, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. Research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

AppLovin Company Profile

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.