AppLovin (NASDAQ:APP) Trading 0.6% Higher – Should You Buy?

AppLovin Co. (NASDAQ:APP) was up 0.6% on Friday . The stock traded as high as $309.56 and last traded at $308.63. Approximately 2,468,933 shares were traded during trading, a decline of 53% from the average daily volume of 5,217,479 shares. The stock had previously closed at $306.74.

Analysts Set New Price Targets

Several equities analysts have weighed in on APP shares. Loop Capital raised their price target on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Bank of America raised their price target on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. Citigroup lifted their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Trading Up 0.1 %

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 company has a 50 day simple moving average of $353.92 and a two-hundred day simple moving average of $272.44. The firm has a market cap of $104.34 billion, a PE ratio of 67.74, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. Analysts expect 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 dated 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 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, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % 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 in the last quarter. 14.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently bought and sold shares of the business. JFS Wealth Advisors LLC raised its holdings in AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the period. HighPoint Advisor Group LLC raised its holdings in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after acquiring an additional 31 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after acquiring an additional 33 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock valued at $1,223,000 after acquiring an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after acquiring an additional 38 shares during the last quarter. 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.