AppLovin (NASDAQ:APP) Stock Price Up 7.4% – What’s Next?

Shares of AppLovin Corporation (NASDAQ:APP) traded up 7.4% during mid-day trading on Wednesday . The company traded as high as $407.18 and last traded at $404.39. 5,709,358 shares traded hands during trading, a decline of 18% from the average session volume of 6,939,660 shares. The stock had previously closed at $376.38.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on APP shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a report on Thursday, February 12th. Scotiabank raised their price objective on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Wedbush lifted their price objective on AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 target price on shares of AppLovin in a report on Thursday, February 12th. Finally, Benchmark restated a “buy” rating on shares of AppLovin in a research note on Monday, February 2nd. Twenty research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $651.77.

AppLovin Trading Up 7.4%

The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.25 and a current ratio of 3.32. The company has a market capitalization of $136.66 billion, a PE ratio of 41.48, a PEG ratio of 1.25 and a beta of 2.49. The stock has a fifty day moving average of $583.58 and a 200 day moving average of $573.24.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the firm posted $1.73 EPS. The company’s revenue was up 66.0% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 17,112 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $502.48, for a total transaction of $8,598,437.76. Following the completion of the transaction, the chief executive officer owned 2,584,049 shares of the company’s stock, valued at $1,298,432,941.52. This represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 150 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the transaction, the director owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 187,786 shares of company stock valued at $100,914,925. 13.66% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

Large investors have recently added to or reduced their stakes in the company. Vident Advisory LLC boosted its position in shares of AppLovin by 4.2% during the 4th quarter. Vident Advisory LLC now owns 85,409 shares of the company’s stock valued at $57,550,000 after acquiring an additional 3,439 shares during the last quarter. State of Tennessee Department of Treasury raised its stake in AppLovin by 258.4% during the fourth quarter. State of Tennessee Department of Treasury now owns 94,803 shares of the company’s stock valued at $63,880,000 after purchasing an additional 68,353 shares in the last quarter. EP Wealth Advisors LLC bought a new position in AppLovin during the fourth quarter valued at $2,267,000. Mackenzie Financial Corp lifted its position in AppLovin by 22.0% during the fourth quarter. Mackenzie Financial Corp now owns 119,595 shares of the company’s stock valued at $82,801,000 after purchasing an additional 21,558 shares during the last quarter. Finally, Regal Partners Ltd grew its stake in shares of AppLovin by 98.3% in the 4th quarter. Regal Partners Ltd now owns 7,438 shares of the company’s stock worth $5,012,000 after buying an additional 3,688 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.