AppLovin (NASDAQ:APP) Trading 4.4% Higher Following Analyst Upgrade

AppLovin Co. (NASDAQ:APP) shares shot up 4.4% during 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. 677,643 shares traded hands during trading, a decline of 85% from the average session volume of 4,450,122 shares. The stock had previously closed at $319.59.

A number of other analysts have also issued reports on the company. Citigroup raised their price target on AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America raised their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday. Loop Capital raised their price objective on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Piper Sandler started coverage on AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 12.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the sale, the chief financial officer now directly owns 213,336 shares in the company, valued at $70,970,487.12. The trade was a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 854,065 shares of company stock worth $233,072,408 in the last 90 days. 14.69% of the stock is currently owned by company insiders.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Castellan Group acquired a new stake in shares of AppLovin during the third quarter worth $8,799,000. Optimist Retirement Group LLC acquired a new stake in shares of AppLovin during the third quarter worth $284,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of AppLovin during the third quarter worth $833,000. Sanctuary Advisors LLC raised its position in shares of AppLovin by 341.3% during the third quarter. Sanctuary Advisors LLC now owns 12,789 shares of the company’s stock worth $1,670,000 after purchasing an additional 9,891 shares during the period. Finally, Pine Valley Investments Ltd Liability Co purchased a new position in shares of AppLovin during the third quarter valued at $228,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 4.4 %

The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $112.01 billion, a PE ratio of 96.85, a P/E/G ratio of 4.11 and a beta of 1.86. The business has a fifty day moving average price of $185.37 and a two-hundred day moving average price of $119.37.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, analysts anticipate that AppLovin Co. will post 4.05 EPS 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.