AppLovin (NASDAQ:APP) Trading 4.1% Higher

AppLovin Co. (NASDAQ:APP) shares shot up 4.1% during trading on Wednesday . The stock traded as high as $83.17 and last traded at $83.08. 828,246 shares were traded during mid-day trading, a decline of 80% from the average session volume of 4,125,018 shares. The stock had previously closed at $79.79.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APP. The Goldman Sachs Group upped their target price on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Morgan Stanley raised their price objective on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Citigroup lifted their price target on shares of AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Oppenheimer restated an “outperform” rating and issued a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Finally, Jefferies Financial Group boosted their price target on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $77.44.

AppLovin Trading Up 5.2 %

The stock has a 50-day simple moving average of $79.80 and a two-hundred day simple moving average of $71.98. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market cap of $27.61 billion, a PE ratio of 49.63, a price-to-earnings-growth ratio of 1.27 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.22 earnings per share. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.96 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $693,468,938.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the transaction, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 47,001 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,122 shares of company stock worth $17,796,239. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Several hedge funds have recently bought and sold shares of APP. WCM Investment Management LLC bought a new position in shares of AppLovin during the 1st quarter valued at approximately $497,488,000. Sapient Capital LLC purchased a new stake in shares of AppLovin in the fourth quarter worth $165,057,000. Whale Rock Capital Management LLC bought a new stake in shares of AppLovin during the 1st quarter valued at $195,129,000. Jericho Capital Asset Management L.P. lifted its stake in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in AppLovin by 977.2% in the 2nd 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 during the period. Institutional investors own 41.85% of the company’s stock.

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.