AppLovin (NASDAQ:APP) Stock Price Up 1% – Should You Buy?

Shares of AppLovin Co. (NASDAQ:APP) were up 1% during mid-day trading on Thursday . The company traded as high as $349.92 and last traded at $334.45. Approximately 5,536,527 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 6,247,602 shares. The stock had previously closed at $331.00.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of recent analyst reports. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Loop Capital lifted their price objective on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the company an “overweight” rating in a report on Thursday. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, Benchmark increased their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Trading Down 3.2 %

The company has a fifty day moving average of $368.06 and a 200-day moving average of $250.75. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $107.55 billion, a PE ratio of 70.59, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,372 shares of company stock worth $92,519,099 over the last three months. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin during the 4th quarter valued at $25,000. GHP Investment Advisors Inc. bought a new stake in AppLovin during the fourth quarter valued at $25,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new position in shares of AppLovin in the 4th quarter worth about $28,000. Finally, Hemington Wealth Management grew its holdings in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

About AppLovin

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.