AppLovin (NASDAQ:APP) Trading Up 0.3% - Here's What Happened

AppLovin Co. (NASDAQ:APP - Get Free Report)'s stock price was up 0.3% during mid-day trading on Tuesday . The company traded as high as $302.88 and last traded at $302.70. Approximately 1,639,768 shares were traded during trading, a decline of 72% from the average daily volume of 5,933,363 shares. The stock had previously closed at $301.84.

Analyst Upgrades and Downgrades

APP has been the subject of a number of analyst reports. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a research note on Thursday. Jefferies Financial Group lifted their price target on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday. Loop Capital reissued a "buy" rating and issued a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. Finally, Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $433.85.

AppLovin Stock Performance

The stock has a market cap of $111.77 billion, a price-to-earnings ratio of 72.42, a P/E/G ratio of 3.02 and a beta of 2.39. The firm's 50-day moving average is $275.55 and its two-hundred day moving average is $311.59. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company earned $0.67 EPS. The company's revenue for the quarter was up 40.3% on a year-over-year basis. As a group, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company's stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by company insiders.

Institutional Trading of AppLovin

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after buying an additional 153,248 shares during the last quarter. Chicago Capital LLC acquired a new position in shares of AppLovin during the fourth quarter worth about $323,000. Graypoint LLC purchased a new position in AppLovin during the fourth quarter worth about $369,000. Brookstone Capital Management acquired a new stake in AppLovin in the fourth quarter valued at about $290,000. Finally, Wedmont Private Capital increased its position in AppLovin by 4.6% during the 4th quarter. Wedmont Private Capital now owns 6,322 shares of the company's stock worth $2,013,000 after purchasing an additional 277 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Company Profile

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.