AppLovin (NASDAQ:APP) Stock Price Up 0.8% – Should You Buy?

Shares of AppLovin Co. (NASDAQ:APP) rose 0.8% during trading on Friday . The company traded as high as $368.85 and last traded at $365.31. Approximately 794,321 shares were traded during trading, a decline of 80% from the average daily volume of 3,926,186 shares. The stock had previously closed at $362.52.

Analyst Ratings Changes

APP has been the subject of a number of research analyst reports. Piper Sandler assumed coverage on AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Jefferies Financial Group upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Macquarie upped their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.41.

AppLovin Stock Up 1.2 %

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’s 50-day moving average price is $335.97 and its 200 day moving average price is $195.69. The firm has a market cap of $123.13 billion, a P/E ratio of 111.30, a PEG ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares in the company, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 over the last quarter. 14.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after acquiring an additional 560,560 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after acquiring an additional 449,241 shares in the last quarter. Institutional investors and hedge funds 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.