AppLovin (NASDAQ:APP) Stock Price Up 1.3% - What's Next?

AppLovin Corporation (NASDAQ:APP - Get Free Report) rose 1.3% during mid-day trading on Friday . The stock traded as high as $343.50 and last traded at $340.24. Approximately 3,525,836 shares were traded during trading, a decline of 43% from the average daily volume of 6,220,592 shares. The stock had previously closed at $336.00.

Analysts Set New Price Targets

APP has been the topic of several analyst reports. Benchmark reiterated a "buy" rating and set a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. UBS Group upped their price target on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. Wells Fargo & Company upped their price target on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Scotiabank initiated coverage on shares of AppLovin in a report on Monday. They set an "outperform" rating and a $430.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $438.43.

AppLovin Price Performance

The firm has a fifty day simple moving average of $353.55 and a 200 day simple moving average of $334.17. The company has a market capitalization of $116.74 billion, a PE ratio of 62.27, a P/E/G ratio of 2.04 and a beta of 2.42. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business posted $0.67 EPS. The business's revenue was up 40.3% compared to the same quarter last year. Equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total value of $12,294,648.24. Following the transaction, the chief technology officer directly owned 70,889 shares in the company, valued at approximately $25,069,185.96. This trade represents a 32.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the transaction, the director owned 221,209 shares in the company, valued at $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, 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 Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC lifted its position in AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after acquiring an additional 31 shares during the period. Quadrant Capital Group LLC lifted its position in AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after acquiring an additional 33 shares during the period. Forum Financial Management LP lifted its position in AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after acquiring an additional 33 shares during the period. Vestcor Inc lifted its position in AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after acquiring an additional 33 shares during the period. Finally, GSG Advisors LLC lifted its position in AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock worth $2,820,000 after acquiring an additional 35 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

About AppLovin

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.