AppLovin (NASDAQ:APP) Trading Up 2.9%

AppLovin Co. (NASDAQ:APP) shot up 2.9% during trading on Tuesday . The company traded as high as $88.32 and last traded at $88.32. 481,853 shares changed hands during trading, a decline of 88% from the average session volume of 4,110,066 shares. The stock had previously closed at $85.82.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wedbush cut their price objective on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group upped their price objective on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Citigroup upped their price target on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $79.94.

AppLovin Stock Performance

The company has a market capitalization of $28.56 billion, a P/E ratio of 51.68, a PEG ratio of 1.27 and a beta of 1.86. The stock’s fifty day moving average price is $80.06 and its 200-day moving average price is $73.18. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $0.22 EPS. The firm’s revenue was up 44.0% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the sale, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total value of $235,159.30. Following the completion of the transaction, the insider now directly owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 409,350 shares of company stock worth $34,147,941. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently modified their holdings of APP. Quest Partners LLC bought a new position in shares of AppLovin in the 2nd quarter valued at $33,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AppLovin during the second quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of AppLovin during the second quarter worth about $37,000. Summit Securities Group LLC acquired a new position in shares of AppLovin in the second quarter valued at approximately $42,000. Finally, Covestor Ltd boosted its position in AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after buying an additional 236 shares during the period. 41.85% of the stock is currently 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.