AppLovin (NASDAQ:APP) Shares Up 1% – What’s Next?

AppLovin Co. (NASDAQ:APP)’s stock price shot up 1% on Thursday . The company traded as high as $349.92 and last traded at $334.45. 5,536,527 shares were traded during trading, a decline of 11% from the average session volume of 6,247,602 shares. The stock had previously closed at $331.00.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APP. JPMorgan Chase & Co. upped their price target on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Loop Capital upped their price objective on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. UBS Group upped their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group upped their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $452.29.

AppLovin Stock Up 1.6 %

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 stock has a market cap of $109.33 billion, a P/E ratio of 71.76, a PEG ratio of 3.02 and a beta of 2.30. The firm has a 50-day simple moving average of $367.79 and a two-hundred day simple moving average of $252.97.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now directly owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,872 shares of company stock valued at $82,158,554. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Several large investors have recently bought and sold shares of APP. Mirae Asset Global Investments Co. Ltd. boosted its stake in AppLovin by 1.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after buying an additional 157 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in AppLovin in the third quarter valued at about $292,000. abrdn plc boosted its stake in AppLovin by 784.2% in the third quarter. abrdn plc now owns 49,691 shares of the company’s stock valued at $6,487,000 after buying an additional 44,071 shares in the last quarter. Strategic Blueprint LLC boosted its stake in shares of AppLovin by 13.9% during the third quarter. Strategic Blueprint LLC now owns 3,140 shares of the company’s stock valued at $410,000 after purchasing an additional 383 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of AppLovin by 97.8% during the third quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock valued at $1,939,000 after purchasing an additional 7,342 shares in the last quarter. 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.