AppLovin (NASDAQ:APP) Shares Up 4.4% on Analyst Upgrade

AppLovin Co. (NASDAQ:APP)’s share price was up 4.4% during mid-day trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $270.00 to $400.00. Jefferies Financial Group currently has a buy rating on the stock. AppLovin traded as high as $334.74 and last traded at $333.76. Approximately 677,643 shares were traded during trading, a decline of 85% from the average daily volume of 4,450,122 shares. The stock had previously closed at $319.59.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Bank of America boosted their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday. Oppenheimer increased their target price on AppLovin from $260.00 to $480.00 and gave the company an “outperform” rating in a research report on Monday. Benchmark restated a “sell” rating and set a $66.00 price target on shares of AppLovin in a report on Thursday, November 7th. Finally, Macquarie upped their price objective on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $900,711.30. This trade represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 854,065 shares of company stock valued at $233,072,408 over the last quarter. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Several large investors have recently made changes to their positions in the company. National Bank of Canada FI grew its position in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares during the period. Great Valley Advisor Group Inc. lifted its stake in shares of AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after buying an additional 60 shares in the last quarter. HM Payson & Co. grew its holdings in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Aptus Capital Advisors LLC increased its position in shares of AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after acquiring an additional 104 shares in the last quarter. Finally, Ashton Thomas Securities LLC increased its position in shares of AppLovin by 2.6% during the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after acquiring an additional 121 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 3.2 %

The company has a market cap of $110.67 billion, a price-to-earnings ratio of 99.93, a price-to-earnings-growth ratio of 4.11 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock’s fifty day moving average is $185.37 and its two-hundred day moving average is $119.37.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. Sell-side analysts predict that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

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.