AppLovin (NASDAQ:APP) Trading Up 0.2% – Should You Buy?

AppLovin Co. (NASDAQ:APP)’s share price traded up 0.2% during trading on Monday . The company traded as high as $262.08 and last traded at $250.50. 2,296,054 shares changed hands during trading, a decline of 60% from the average session volume of 5,750,898 shares. The stock had previously closed at $249.95.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler cut their target price on AppLovin from $575.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Benchmark increased their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Loop Capital reiterated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. Finally, Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $424.84.

AppLovin Trading Down 4.9 %

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 stock has a market cap of $80.83 billion, a price-to-earnings ratio of 52.37, a P/E/G ratio of 3.02 and a beta of 2.39. The business’s 50 day moving average is $327.20 and its 200 day moving average is $294.56.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating 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%. As a group, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of hedge funds have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. purchased a new position in AppLovin during the 4th quarter worth $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management boosted 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 in the last quarter. 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.