AppLovin (NASDAQ:APP) Stock Price Up 0.7% - Here's What Happened

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) traded up 0.7% during trading on Monday . The company traded as high as $286.83 and last traded at $278.69. 2,462,187 shares were traded during trading, a decline of 58% from the average session volume of 5,872,145 shares. The stock had previously closed at $276.83.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler reduced their price objective on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company reduced their price objective on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. FBN Securities assumed coverage on AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price for the company. Finally, Morgan Stanley raised AppLovin from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $470.00 to $350.00 in a report on Thursday, April 10th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $415.15.

AppLovin Stock Performance

The company has a market capitalization of $91.55 billion, a P/E ratio of 59.32, a PEG ratio of 3.02 and a beta of 2.39. 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 fifty day moving average price of $280.83 and a two-hundred day moving average price of $302.78.

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

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now 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 disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last ninety days. Insiders own 14.69% of the company's stock.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GHP Investment Advisors Inc. bought a new stake in AppLovin in the fourth quarter valued at $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin during the fourth quarter valued at about $25,000. Atala Financial Inc acquired a new position in shares of AppLovin during the first quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin during the first quarter valued at about $27,000. Finally, Riverview Trust Co grew its holdings in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares during the last quarter. 41.85% of the stock is owned by 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.