AppLovin (NASDAQ:APP) Shares Up 4.6%

AppLovin Co. (NASDAQ:APPGet Free Report) shares shot up 4.6% during trading on Wednesday . The stock traded as high as $72.98 and last traded at $72.95. 1,904,584 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 4,161,314 shares. The stock had previously closed at $69.72.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APP. The Goldman Sachs Group increased their price target on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. UBS Group increased their price target on AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Wedbush raised their price objective on AppLovin from $58.50 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, HSBC began coverage on AppLovin in a research note on Monday, December 18th. They set a “buy” rating and a $53.20 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.04.

Read Our Latest Research Report on APP

AppLovin Trading Up 4.8 %

The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. The company has a fifty day moving average of $57.76 and a 200-day moving average of $45.95. The firm has a market capitalization of $25.00 billion, a PE ratio of 73.30, a price-to-earnings-growth ratio of 1.39 and a beta of 1.90.

AppLovin (NASDAQ:APPGet Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The company had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same period last year, the company earned ($0.21) earnings per share. The business’s revenue was up 35.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AppLovin Co. will post 2.48 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the transaction, the director now owns 12,739 shares in the company, valued at $743,065.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,215 shares of company stock worth $666,315. 12.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. FinTrust Capital Advisors LLC bought a new position in AppLovin in the fourth quarter valued at approximately $32,000. BluePath Capital Management LLC bought a new position in AppLovin in the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its stake in AppLovin by 86.1% in the third quarter. Tower Research Capital LLC TRC now owns 927 shares of the company’s stock valued at $37,000 after buying an additional 429 shares in the last quarter. Castleview Partners LLC bought a new position in AppLovin in the third quarter valued at approximately $38,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of AppLovin in the third quarter worth $44,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Company Profile

(Get Free Report)

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.

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