AppLovin (NASDAQ:APP) Trading 6.4% Higher

Shares of AppLovin Co. (NASDAQ:APP) traded up 6.4% on Friday . The company traded as high as $74.50 and last traded at $73.64. 1,731,968 shares changed hands during trading, a decline of 57% from the average session volume of 4,045,721 shares. The stock had previously closed at $69.21.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. Oppenheimer upped their price target on AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley upped their price target on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group upped their price target on AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, UBS Group upped their price target on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.31.

AppLovin Stock Up 6.7 %

The company has a market capitalization of $25.25 billion, a PE ratio of 73.73, a PEG ratio of 1.40 and a beta of 1.90. The company’s 50 day moving average is $66.85 and its two-hundred day moving average is $49.74. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business had revenue of $953.26 million during the quarter, compared to analysts’ expectations of $928.66 million. During the same period last year, the company posted ($0.21) EPS. The business’s revenue was up 35.7% on a year-over-year basis. On average, analysts anticipate that AppLovin Co. will post 2.49 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the sale, the chief financial officer now owns 362,264 shares in the company, valued at approximately $22,931,311.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now owns 546,560 shares in the company, valued at approximately $31,569,305.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the transaction, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Insiders sold 61,215 shares of company stock worth $4,416,815 in the last 90 days. 12.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC acquired a new stake in shares of AppLovin in the fourth quarter worth $32,000. BluePath Capital Management LLC acquired a new stake in shares of AppLovin in the third quarter worth $33,000. Castleview Partners LLC acquired a new stake in shares of AppLovin in the third quarter worth $38,000. Atlas Capital Advisors LLC acquired a new stake in AppLovin during the first quarter valued at $38,000. Finally, Cullen Frost Bankers Inc. purchased a new position in AppLovin during the third quarter valued at $44,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.