AppLovin Target of Unusually High Options Trading (NASDAQ:APP)

AppLovin Co. (NASDAQ:APPGet Free Report) saw unusually large options trading activity on Friday. Stock investors purchased 21,787 call options on the stock. This represents an increase of 104% compared to the typical volume of 10,658 call options.

Analyst Ratings Changes

A number of brokerages have recently commented on APP. Jefferies Financial Group lifted their price target on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Morgan Stanley lifted their price target on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Wedbush lifted their price target on shares of AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Stifel Nicolaus lifted their price target on shares of AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, BTIG Research lifted their price target on shares of AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $71.72.

Check Out Our Latest Analysis on AppLovin

AppLovin Price Performance

Shares of NASDAQ:APP opened at $86.80 on Friday. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. AppLovin has a 1-year low of $25.24 and a 1-year high of $91.91. The company has a market capitalization of $28.56 billion, a P/E ratio of 51.67, a P/E/G ratio of 1.47 and a beta of 1.86. The firm’s 50 day simple moving average is $80.69 and its two-hundred day simple moving average is $64.55.

AppLovin (NASDAQ:APPGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $973.70 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. AppLovin’s quarterly revenue was up 47.9% on a year-over-year basis. Research analysts expect that AppLovin will post 2.96 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CMO Katie Kihorany Jansen sold 147,984 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the completion of the sale, the chief marketing officer now directly owns 1,264,284 shares in the company, valued at approximately $104,037,930.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AppLovin news, Director Craig Scott Billings sold 5,620 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $84.97, for a total transaction of $477,531.40. Following the completion of the sale, the director now directly owns 1,780 shares in the company, valued at approximately $151,246.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 147,984 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the sale, the chief marketing officer now owns 1,264,284 shares of the company’s stock, valued at $104,037,930.36. The disclosure for this sale can be found here. Insiders sold a total of 17,738,887 shares of company stock worth $1,478,466,735 in the last three months. 14.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. FinTrust Capital Advisors LLC purchased a new stake in shares of AppLovin during the fourth quarter valued at $32,000. Covestor Ltd increased its holdings in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after acquiring an additional 236 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin in the 2nd quarter worth approximately $37,000. Atlas Capital Advisors LLC acquired a new position in AppLovin in the 1st quarter worth approximately $38,000. Finally, ORG Partners LLC increased its holdings in AppLovin by 212.0% in the 1st quarter. ORG Partners LLC now owns 624 shares of the company’s stock worth $43,000 after buying an additional 424 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

(Get Free Report)

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.

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