AppLovin (NASDAQ:APP) Trading 0.6% Higher – Should You Buy?

AppLovin Co. (NASDAQ:APP)’s share price traded up 0.6% during trading on Friday . The company traded as high as $309.56 and last traded at $308.63. 2,468,933 shares were traded during trading, a decline of 53% from the average session volume of 5,217,479 shares. The stock had previously closed at $306.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Benchmark increased their target price on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler upped their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the company 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 given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Up 0.1 %

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 business has a 50 day simple moving average of $353.92 and a 200 day simple moving average of $272.44. The company has a market capitalization of $104.34 billion, a price-to-earnings ratio of 67.74, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its quarterly earnings results 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 return on equity of 188.55% and a net margin of 33.54%. As a group, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $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 available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock worth $106,401,841. 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. OneDigital Investment Advisors LLC purchased a new position in shares of AppLovin during the third quarter worth about $336,000. CIBC Asset Management Inc grew its holdings in shares of AppLovin by 3.6% during the third quarter. CIBC Asset Management Inc now owns 7,777 shares of the company’s stock worth $1,015,000 after purchasing an additional 267 shares during the last quarter. AMG National Trust Bank purchased a new position in shares of AppLovin during the third quarter worth about $225,000. Pathstone Holdings LLC grew its holdings in shares of AppLovin by 5.5% during the third quarter. Pathstone Holdings LLC now owns 19,866 shares of the company’s stock worth $2,594,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of AppLovin during the third quarter worth about $27,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.