AppLovin (NASDAQ:APP) Sets New 1-Year High at $133.18

AppLovin Co. (NASDAQ:APP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $133.18 and last traded at $132.32, with a volume of 158723 shares traded. The stock had previously closed at $131.36.

Wall Street Analyst Weigh In

A number of research analysts recently commented on APP shares. Macquarie reissued an “outperform” rating and issued a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Benchmark increased their target price on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Jefferies Financial Group lifted their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup upped their price target on shares of AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Oppenheimer reissued an “outperform” rating and set a $105.00 price objective (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $106.44.

AppLovin Trading Up 2.7 %

The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm’s 50 day moving average is $95.35 and its two-hundred day moving average is $84.14. The stock has a market cap of $44.39 billion, a price-to-earnings ratio of 78.19, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88.

AppLovin (NASDAQ:APP) last announced its quarterly 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 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm earned $0.22 EPS. The business’s quarterly revenue was up 44.0% on a year-over-year basis. Equities analysts anticipate that AppLovin Co. will post 3.46 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 5,500 shares of AppLovin stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00. Following the sale, the chief technology officer now owns 4,536,447 shares in the company, valued at $390,315,899.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 728,933 shares of company stock worth $61,807,117. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Institutional investors have recently made changes to their positions in the stock. Lone Pine Capital LLC boosted its stake in AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after buying an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. grew its stake in shares of AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after purchasing an additional 2,525,240 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of AppLovin in the 2nd quarter worth approximately $290,655,000. Whale Rock Capital Management LLC bought a new stake in shares of AppLovin in the 1st quarter worth approximately $195,129,000. Finally, First Trust Advisors LP lifted its stake in AppLovin by 42.6% during the fourth quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock valued at $91,605,000 after purchasing an additional 686,258 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

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.