AppLovin (NASDAQ:APP) Trading 1.7% Higher – Still a Buy?

AppLovin Co. (NASDAQ:APP) shares traded up 1.7% during trading on Tuesday . The company traded as high as $242.68 and last traded at $239.97. 2,260,269 shares traded hands during trading, a decline of 61% from the average session volume of 5,757,778 shares. The stock had previously closed at $236.07.

Analyst Ratings Changes

APP has been the topic of a number of research analyst reports. Loop Capital reiterated a “buy” rating and set a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised 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. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Finally, UBS Group lowered their price target on AppLovin from $630.00 to $450.00 and set a “buy” rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $424.84.

AppLovin Stock Performance

The stock has a fifty day moving average price of $318.93 and a 200-day moving average price of $294.53. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $78.13 billion, a price-to-earnings ratio of 50.62, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated 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 $201,675,501.85. This represents a 24.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now directly 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. In the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of APP. GHP Investment Advisors Inc. acquired a new position in AppLovin in the fourth quarter worth approximately $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin during the 4th quarter worth $25,000. Riverview Trust Co grew its holdings 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 buying an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new position in AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

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.