AppLovin (NASDAQ:APP) Stock Price Up 3.4% - Time to Buy?

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Macquarie boosted their price target on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Oppenheimer reaffirmed an "outperform" rating and issued a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Benchmark increased their target price on shares of AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, UBS Group raised their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.28.

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AppLovin Price Performance

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 stock has a market cap of $94.56 billion, a P/E ratio of 61.12, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The business has a 50-day simple moving average of $356.03 and a 200 day simple moving average of $270.72.

AppLovin (NASDAQ:APP - Get Free Report) last announced its 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 return on equity of 188.55% and a net margin of 33.54%. On average, analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the business's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 322,871 shares of company stock worth $111,401,882 in the last quarter. Company insiders own 14.69% of the company's stock.

Hedge Funds Weigh In On AppLovin

Several hedge funds have recently modified their holdings of APP. Atria Investments Inc purchased a new position in AppLovin in the third quarter worth $574,000. Crossmark Global Holdings Inc. bought a new position in AppLovin during the third quarter valued at about $289,000. Metis Global Partners LLC purchased a new stake in AppLovin during the third quarter worth about $341,000. OneDigital Investment Advisors LLC bought a new stake in AppLovin in the third quarter worth about $336,000. Finally, CIBC Asset Management Inc boosted its stake in AppLovin by 3.6% in the third quarter. CIBC Asset Management Inc now owns 7,777 shares of the company's stock valued at $1,015,000 after acquiring an additional 267 shares during the last quarter. 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.