AppLovin (NASDAQ:APP) Sees Large Volume Increase

AppLovin Co. (NASDAQ:APP) shares saw unusually-high trading volume on Tuesday . Approximately 2,396,537 shares changed 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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wedbush decreased their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. BTIG Research lifted their price target on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $145.00 in a report on Tuesday. Bank of America boosted their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group raised their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.71.

AppLovin Stock Performance

The stock’s 50-day moving average price is $84.70 and its 200-day moving average price is $78.78. The company has a market capitalization of $40.59 billion, a price-to-earnings ratio of 72.83, a P/E/G ratio of 1.41 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, equities research analysts expect that AppLovin Co. will post 3.46 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s 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 completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the transaction, the director now directly owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold 775,934 shares of company stock valued at $65,805,022 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp grew its position in AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after acquiring an additional 248,022 shares during the period. Gulf International Bank UK Ltd acquired a new position in AppLovin during the first quarter valued at approximately $1,131,000. Acadian Asset Management LLC lifted its position in AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after buying an additional 15,590 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after acquiring an additional 10,099 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in AppLovin during the 2nd quarter worth $1,195,000. 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.