AppLovin (NASDAQ:APP) Stock Price Up 3.4% – Should You Buy?

Shares of AppLovin Co. (NASDAQ:APP) rose 3.4% during mid-day trading on Monday . The company traded as high as $304.00 and last traded at $302.93. Approximately 2,899,635 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 5,179,792 shares. The stock had previously closed at $292.89.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Stifel Nicolaus raised their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Bank of America raised their price objective on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Monday. Finally, Loop Capital raised their price objective on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Trading Up 6.2 %

The business’s 50 day simple moving average is $357.00 and its 200 day simple moving average is $269.20. 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 stock has a market cap of $105.73 billion, a P/E ratio of 68.69, a PEG ratio of 3.02 and a beta of 2.33.

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

Insider Activity

In related news, insider Victoria Valenzuela sold 15,971 shares of the business’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 transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 322,871 shares of company stock worth $111,401,882. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Institutional investors have recently bought and sold shares of the business. Atria Investments Inc bought a new stake in shares of AppLovin in the 3rd quarter valued at $574,000. Crossmark Global Holdings Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at $289,000. Metis Global Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter valued at $341,000. OneDigital Investment Advisors LLC bought a new stake in shares of AppLovin in the 3rd quarter valued at $336,000. Finally, CIBC Asset Management Inc increased its holdings in AppLovin by 3.6% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.