AppLovin (NASDAQ:APP) Trading Up 1.4% – Should You Buy?

Shares of AppLovin Co. (NASDAQ:APP) rose 1.4% during trading on Tuesday . The stock traded as high as $348.55 and last traded at $344.51. Approximately 2,428,000 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 7,602,232 shares. The stock had previously closed at $339.72.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. UBS Group increased their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Stifel Nicolaus increased their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group lifted their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Down 20.1 %

The stock has a market cap of $88.97 billion, a price-to-earnings ratio of 57.64, a P/E/G ratio of 3.02 and a beta of 2.33. The business has a fifty day moving average of $354.67 and a 200 day moving average of $280.55. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of hedge funds have recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its holdings in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after purchasing an additional 31 shares in the last quarter. Quadrant Capital Group LLC boosted its position in AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after buying an additional 33 shares during the last quarter. Forum Financial Management LP boosted its holdings in AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock valued at $1,223,000 after acquiring an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC boosted its stake in AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after acquiring an additional 38 shares during the last quarter. 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.