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

AppLovin Co. (NASDAQ:APP - Get Free Report)'s stock price was up 3.4% on Monday . The company traded as high as $304.00 and last traded at $302.93. Approximately 2,899,635 shares changed hands during 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 Analyst Weigh In

Several research analysts recently weighed in on APP shares. Bank of America upped their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Loop Capital raised their target price on AppLovin from $450.00 to $650.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Monday. JPMorgan Chase & Co. raised their price objective on AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Finally, UBS Group upped their target price on shares of AppLovin from $440.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $438.28.

AppLovin Price Performance

The company has a market cap of $94.79 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 3.02 and a beta of 2.33. The stock's 50-day simple moving average is $355.01 and its 200 day simple moving average is $272.03. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

Remove Ads

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, 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%. On average, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the company's stock in a transaction dated 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 directly owns 372,205 shares of the company's stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is currently owned by corporate insiders.

Institutional Trading of AppLovin

Hedge funds have recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin in the fourth quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin in the 3rd quarter worth about $27,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Finally, Tucker Asset Management LLC acquired a new position in AppLovin during the fourth quarter worth about $28,000. Institutional investors and hedge funds 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.