AppLovin (NASDAQ:APP) Trading 4.9% Higher - Time to Buy?

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) rose 4.9% during trading on Wednesday . The stock traded as high as $291.46 and last traded at $292.43. Approximately 2,124,232 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 5,195,103 shares. The stock had previously closed at $278.84.

Wall Street Analyst Weigh In

Several analysts have weighed in on APP shares. Citigroup lifted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the company an "overweight" rating in a report on Thursday, February 27th. Loop Capital upped 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. Finally, Stifel Nicolaus raised their price target on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $438.28.

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AppLovin Stock Up 2.4 %

The stock has a market capitalization of $106.76 billion, a P/E ratio of 69.17, a P/E/G ratio of 3.02 and a beta of 2.33. 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 firm has a 50-day simple moving average of $353.83 and a 200 day simple moving average of $275.28.

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

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 over the last three months. Company insiders own 14.69% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin in the fourth quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co increased its stake in shares of 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 in the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management boosted its stake in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

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.