AppLovin (NASDAQ:APP) Sets New 12-Month High at $125.71

Shares of AppLovin Co. (NASDAQ:APP) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $125.71 and last traded at $125.52, with a volume of 4591354 shares traded. The stock had previously closed at $123.64.

Wall Street Analysts Forecast Growth

APP has been the topic of several research analyst reports. Benchmark increased their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. BTIG Research raised their target price on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Jefferies Financial Group boosted their target price on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Oppenheimer reiterated an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Finally, UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $98.71.

AppLovin Stock Up 0.6 %

The company has a market capitalization of $40.91 billion, a PE ratio of 73.60, a PEG ratio of 1.41 and a beta of 1.88. The company’s 50 day moving average is $85.48 and its two-hundred day moving average is $79.21. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating 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 company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company earned $0.22 earnings per share. The firm’s revenue was up 44.0% on a year-over-year basis. On average, analysts anticipate that AppLovin Co. will post 3.46 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on 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 directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred 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 in the company, valued at approximately $900,711.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares in the company, valued at approximately $20,262,490.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 775,934 shares of company stock worth $65,805,022. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

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