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AppLovin Co. (NYSE:APP) shares traded up 6.7% during mid-day trading on Friday . The company traded as high as $74.32 and last traded at $74.32. 10,328 shares were traded during trading, a decline of 99% from the average session volume of 926,118 shares. The stock had previously closed at $69.68.
A number of analysts recently issued reports on the stock. Stifel Nicolaus began coverage on shares of AppLovin in a research report on Monday, May 17th. They set a “hold” rating and a $64.00 target price for the company. Truist Securities assumed coverage on AppLovin in a research note on Monday, May 17th. They set a “buy” rating and a $76.00 target price for the company. Morgan Stanley dropped their price target on AppLovin from $75.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, May 17th. Bank of America initiated coverage on AppLovin in a research report on Monday, May 17th. They set a “buy” rating and a $75.00 price target on the stock. Finally, Truist Financial initiated coverage on AppLovin in a research report on Monday, May 10th. They issued a “buy” rating and a $76.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. AppLovin has an average rating of “Buy” and a consensus target price of $74.67.
In related news, Director Eduardo Vivas purchased 16,883 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The shares were acquired at an average price of $59.23 per share, with a total value of $999,980.09. Following the purchase, the director now directly owns 10,882,701 shares in the company, valued at $644,582,380.23. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Herald Y. Chen purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The stock was bought at an average cost of $58.41 per share, for a total transaction of $876,150.00. The disclosure for this purchase can be found here. Insiders have bought a total of 32,085 shares of company stock worth $1,892,290 in the last three months. 1.90% of the stock is owned by insiders.
AppLovin Company Profile (NYSE:APP)
AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps worldwide. The company's software solutions include AppDiscovery, a solution to automate, optimize, and manage user acquisition investments for business clients; and MAX, an in-app bidding solution that optimizes purchases of app ad inventory.
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