AppLovin (NASDAQ:APP) Trading 3.1% Higher – Should You Buy?

Shares of AppLovin Co. (NASDAQ:APP) were up 3.1% on Monday . The stock traded as high as $347.39 and last traded at $342.34. Approximately 4,173,415 shares changed hands during trading, an increase of 7% from the average daily volume of 3,899,418 shares. The stock had previously closed at $332.01.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APP. Loop Capital raised their price objective on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Wedbush reissued an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Macquarie increased their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Bank of America boosted their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $338.06.

AppLovin Stock Up 3.1 %

The business has a 50-day simple moving average of $330.75 and a two-hundred day simple moving average of $189.78. The company has a market capitalization of $114.89 billion, a price-to-earnings ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. As a group, equities analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated 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 transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its stake in shares of AppLovin by 139.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after purchasing an additional 89 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the third quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC bought a new stake in AppLovin during the 3rd quarter valued at $27,000. Finally, Avior Wealth Management LLC grew its position in AppLovin by 54.7% in the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock valued at $70,000 after buying an additional 76 shares in 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.