AppLovin (NASDAQ:APP) Trading 1.1% Higher - What's Next?

AppLovin Co. (NASDAQ:APP - Get Free Report)'s share price traded up 1.1% on Monday . The company traded as high as $401.76 and last traded at $397.41. 2,274,953 shares changed hands during trading, a decline of 63% from the average session volume of 6,075,401 shares. The stock had previously closed at $393.00.

Analysts Set New Price Targets

APP has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Piper Sandler boosted their price target on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Loop Capital restated a "buy" rating and set a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, Wells Fargo & Company boosted their target price on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $436.10.

AppLovin Trading Down 0.8%

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a 50 day moving average price of $302.59 and a 200 day moving average price of $330.23. The stock has a market capitalization of $134.85 billion, a PE ratio of 87.78, a P/E/G ratio of 3.02 and a beta of 2.39.

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, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin's revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. Equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 34,766 shares of the business's 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 now owns 70,889 shares of the company's stock, valued at approximately $25,069,185.96. The trade was a 32.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 33,700 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total value of $12,318,698.00. Following the sale, the chief executive officer now directly owns 2,760,363 shares of the company's stock, valued at approximately $1,009,023,091.02. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,115,754 shares of company stock worth $411,165,970. 14.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of AppLovin by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the period. FMR LLC increased its position in AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock valued at $1,745,752,000 after buying an additional 1,769,400 shares during the period. SVB Wealth LLC purchased a new position in shares of AppLovin during the 4th quarter valued at $1,781,922,000. Finally, Baillie Gifford & Co. lifted its position in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.