AppLovin (NASDAQ:APP) Trading 4.9% Higher – Time to Buy?

AppLovin Co. (NASDAQ:APP)’s share price traded up 4.9% during trading on Wednesday . The company traded as high as $291.46 and last traded at $292.43. 2,124,232 shares traded hands during trading, a decline of 59% from the average session volume of 5,195,103 shares. The stock had previously closed at $278.84.

Wall Street Analysts Forecast Growth

APP has been the topic of several analyst reports. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. UBS Group increased their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Benchmark boosted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Stifel Nicolaus lifted their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have assigned 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, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

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 company’s fifty day moving average is $355.01 and its 200 day moving average is $272.03. The firm has a market cap of $99.67 billion, a price-to-earnings ratio of 64.55, a PEG ratio of 3.02 and a beta of 2.33.

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

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is owned by insiders.

Hedge Funds Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APP. 111 Capital bought a new stake in shares of AppLovin during the 4th quarter worth about $1,142,000. Wealth Enhancement Advisory Services LLC lifted its position in AppLovin by 2.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 105,925 shares of the company’s stock worth $34,302,000 after acquiring an additional 2,793 shares during the last quarter. NorthCrest Asset Manangement LLC bought a new stake in shares of AppLovin during the fourth quarter worth approximately $283,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of AppLovin during the fourth quarter worth approximately $21,804,000. Finally, Centaurus Financial Inc. grew its position in shares of AppLovin by 3.7% in the fourth quarter. Centaurus Financial Inc. now owns 27,601 shares of the company’s stock valued at $8,938,000 after purchasing an additional 997 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

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.