AppLovin (NASDAQ:APP) Stock Price Up 1.9% – Time to Buy?

Shares of AppLovin Co. (NASDAQ:APP) were up 1.9% during trading on Tuesday . The company traded as high as $354.00 and last traded at $348.99. Approximately 1,274,968 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 3,883,924 shares. The stock had previously closed at $342.34.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Bank of America raised their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $355.41.

AppLovin Price Performance

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $121.66 billion, a PE ratio of 109.85, a PEG ratio of 2.77 and a beta of 2.29. The stock has a 50-day moving average price of $335.97 and a 200 day moving average price of $195.69.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. Equities analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

A number of hedge funds have recently bought and sold shares of APP. Fifth Third Bancorp boosted its position in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in AppLovin by 139.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after purchasing an additional 89 shares during the period. Capital Performance Advisors LLP acquired a new position in AppLovin in the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin in the 3rd quarter valued at approximately $27,000. Finally, DT Investment Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds 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.