AppLovin (NASDAQ:APP) Shares Up 8.1% - What's Next?

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) rose 8.1% during mid-day trading on Friday . The company traded as high as $301.98 and last traded at $302.16. Approximately 2,825,968 shares were traded during trading, a decline of 52% from the average daily volume of 5,914,373 shares. The stock had previously closed at $279.49.

Wall Street Analyst Weigh In

A number of research firms recently commented on APP. The Goldman Sachs Group decreased their price objective on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Loop Capital reissued a "buy" rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. Oppenheimer reiterated an "outperform" rating and issued a $560.00 target price on shares of AppLovin in a report on Thursday, March 27th. Finally, Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus target price of $415.15.

AppLovin Trading Up 10.1 %

The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $104.56 billion, a price-to-earnings ratio of 67.75, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The business has a fifty day moving average price of $276.82 and a 200 day moving average price of $305.94.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction that occurred on 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 directly owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company's stock.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. Barclays PLC increased 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 acquiring an additional 153,248 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of AppLovin in the 3rd quarter valued at $833,000. Franklin Resources Inc. lifted its stake in shares of AppLovin by 37.0% during the third quarter. Franklin Resources Inc. now owns 996,996 shares of the company's stock valued at $130,158,000 after acquiring an additional 269,134 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in AppLovin by 43.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 6,391 shares of the company's stock valued at $841,000 after acquiring an additional 1,929 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company's stock worth $104,000 after buying an additional 53 shares during the period. Institutional investors own 41.85% of the company's stock.

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.