AppLovin (NASDAQ:APP) Trading 1.4% Higher Following Analyst Upgrade

AppLovin Corporation (NASDAQ:APP) shares rose 1.4% during mid-day trading on Tuesday after Arete Research upgraded the stock from a sell rating to a neutral rating. Arete Research now has a $340.00 price target on the stock. AppLovin traded as high as $444.16 and last traded at $438.89. Approximately 5,181,385 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 6,715,462 shares. The stock had previously closed at $432.98.

Other equities analysts have also issued reports about the stock. Scotiabank boosted their target price on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. BTIG Research cut their target price on AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Wedbush lifted their target price on AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. The Goldman Sachs Group decreased their price target on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Finally, Weiss Ratings raised AppLovin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Twenty-one equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $658.14.

Insider Activity

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the sale, the director directly owned 2,829 shares in the company, valued at $1,961,402.28. This represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the sale, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 13.66% of the stock is currently owned by corporate insiders.

Institutional Trading of AppLovin

A number of large investors have recently made changes to their positions in the company. Washington Trust Advisors Inc. grew its holdings in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Chilton Capital Management LLC purchased a new position in AppLovin in the third quarter valued at $29,000. Board of the Pension Protection Fund acquired a new stake in AppLovin in the fourth quarter valued at $27,000. Mcguire Capital Advisors Inc. acquired a new stake in AppLovin in the fourth quarter valued at $27,000. Finally, Activest Wealth Management lifted its holdings in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after buying an additional 38 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Up 1.4%

The firm has a market capitalization of $148.03 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 0.89 and a beta of 2.49. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The company has a 50-day moving average price of $533.45 and a 200-day moving average price of $572.35.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.35. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm’s revenue was up 66.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. As a group, research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.