AppLovin Corporation (NASDAQ:APP - Get Free Report) was up 6.4% on Monday . The stock traded as high as $361.76 and last traded at $355.17. Approximately 3,842,815 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 7,613,505 shares. The stock had previously closed at $333.78.
Analyst Ratings Changes
APP has been the topic of a number of recent research reports. HSBC set a $436.00 target price on AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group lifted their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Citigroup restated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. UBS Group lifted their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Oppenheimer reiterated an "outperform" rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $438.85.
Check Out Our Latest Stock Analysis on APP
AppLovin Price Performance
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's 50 day moving average price is $351.09 and its 200-day moving average price is $333.87. The company has a market cap of $115.13 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 2.00 and a beta of 2.42.
AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm's revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. On average, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.
Insider Buying and Selling at AppLovin
In related news, Director Barbara Messing sold 1,500 shares of AppLovin stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total value of $573,690.00. Following the transaction, the director owned 9,510 shares of the company's stock, valued at approximately $3,637,194.60. This trade represents a 13.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the sale, the chief technology officer directly owned 70,889 shares of the company's stock, valued at $25,069,185.96. This represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock valued at $455,062,980 over the last 90 days. 13.66% of the stock is owned by insiders.
Hedge Funds Weigh In On AppLovin
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 worth $4,724,594,000 after buying an additional 1,213,536 shares during the period. FMR LLC lifted its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 acquiring an additional 1,769,400 shares during the period. Baillie Gifford & Co. boosted its position in AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after acquiring an additional 1,185,859 shares during the period. Finally, Geode Capital Management LLC grew its stake in AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after acquiring an additional 573,310 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.
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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