AppLovin (NASDAQ:APP) Trading Up 4.2% - Still a Buy?

AppLovin Co. (NASDAQ:APP - Get Free Report)'s share price traded up 4.2% during mid-day trading on Thursday . The stock traded as high as $313.00 and last traded at $309.38. 2,924,442 shares traded hands during trading, a decline of 44% from the average session volume of 5,202,317 shares. The stock had previously closed at $297.03.

Wall Street Analyst Weigh In

APP has been the subject of a number of research reports. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Bank of America boosted their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Oppenheimer reissued an "outperform" rating and issued a $560.00 target price (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Finally, Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $438.28.

AppLovin Stock Up 7.2 %

The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm's 50-day moving average is $353.83 and its 200 day moving average is $276.60. The firm has a market capitalization of $114.43 billion, a PE ratio of 74.29, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

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AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 17,500 shares of the 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 transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppLovin

Large investors have recently bought and sold shares of the stock. Townsquare Capital LLC grew its position in AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock valued at $1,037,000 after acquiring an additional 3,126 shares during the period. State Street Corp raised its holdings in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after buying an additional 428,419 shares during the period. Zacks Investment Management lifted its position in AppLovin by 328.1% during the third quarter. Zacks Investment Management now owns 106,121 shares of the company's stock valued at $13,854,000 after buying an additional 81,331 shares in the last quarter. Toronto Dominion Bank grew its stake in AppLovin by 38.8% during the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company's stock worth $3,286,000 after buying an additional 7,039 shares during the period. Finally, Oxinas Partners Wealth Management LLC purchased a new stake in AppLovin during the fourth quarter worth approximately $1,081,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

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.