AppLovin (NASDAQ:APP) Sees Unusually-High Trading Volume

Shares of AppLovin Co. (NASDAQ:APP) saw unusually-strong trading volume on Tuesday . Approximately 2,396,537 shares traded hands during mid-day trading, a decline of 42% from the previous session’s volume of 4,121,117 shares.The stock last traded at $121.92 and had previously closed at $116.25.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research reports. Jefferies Financial Group increased 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. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $145.00 in a research report on Tuesday. Bank of America upped their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wedbush decreased their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $98.71.

AppLovin Stock Performance

The company has a market capitalization of $40.52 billion, a P/E ratio of 73.31, a PEG ratio of 1.41 and a beta of 1.88. 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 company’s 50-day moving average is $86.26 and its two-hundred day moving average is $79.52.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. Equities analysts anticipate that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares of the company’s stock, 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 dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 775,934 shares of company stock worth $65,805,022. 14.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of APP. FinTrust Capital Advisors LLC bought a new position in shares of AppLovin during the fourth quarter valued at approximately $32,000. Quest Partners LLC purchased a new stake in shares of AppLovin in the second quarter worth $33,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of AppLovin during the second quarter valued at $34,000. Covestor Ltd increased its holdings in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after acquiring an additional 236 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of AppLovin in the 2nd quarter worth about $37,000. 41.85% of the stock is owned by 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.