AppLovin (NASDAQ:APP) Sees Unusually-High Trading Volume - Should You Buy?

AppLovin Co. (NASDAQ:APP - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 6,112,874 shares were traded during trading, an increase of 14% from the previous session's volume of 5,362,742 shares.The stock last traded at $273.20 and had previously closed at $261.70.

Analysts Set New Price Targets

Several analysts have commented on APP shares. Macquarie lifted their price target on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Piper Sandler upped their price objective on AppLovin from $400.00 to $575.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. The Goldman Sachs Group increased their target price on AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Finally, Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $435.47.

AppLovin Trading Down 2.7 %

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company's fifty day moving average is $351.86 and its 200-day moving average is $284.38. The firm has a market capitalization of $90.08 billion, a P/E ratio of 58.36, a P/E/G ratio of 3.02 and a beta of 2.33.

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AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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%. As a group, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction dated 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 transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 over the last three months. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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