AppLovin Corporation (NASDAQ:APP - Get Free Report) shot up 3.6% during trading on Tuesday . The company traded as high as $352.39 and last traded at $347.55. 1,966,232 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 6,124,391 shares. The stock had previously closed at $335.40.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Arete Research set a $200.00 target price on AppLovin in a report on Wednesday, March 5th. Oppenheimer reissued an "outperform" rating and set a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Jefferies Financial Group upped their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Citigroup reiterated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Finally, Benchmark reissued a "buy" rating and set a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.85.
Get Our Latest Stock Analysis on AppLovin
AppLovin Price Performance
The stock has a market cap of $113.20 billion, a price-to-earnings ratio of 60.38, a price-to-earnings-growth ratio of 1.97 and a beta of 2.53. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The company has a 50-day simple moving average of $341.63 and a two-hundred day simple moving average of $333.58.
AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.
Insider Buying and Selling
In related news, CFO Matthew Stumpf sold 9,714 shares of AppLovin stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the completion of the sale, the chief financial officer now owns 192,421 shares of the company's stock, valued at approximately $81,394,083. The trade was a 4.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 400,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the transaction, the director now owns 221,209 shares in the company, valued at approximately $82,867,103.49. This trade represents a 64.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is owned by insiders.
Institutional Investors Weigh In On AppLovin
A number of hedge funds and other institutional investors have recently modified their holdings of APP. Vanguard Group Inc. grew its stake in shares of AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after acquiring an additional 1,213,536 shares in the last quarter. FMR LLC grew its position in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of AppLovin during the 4th quarter worth approximately $1,781,922,000. Finally, Baillie Gifford & Co. increased its holdings in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the period. 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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