AppLovin (NASDAQ:APP) Shares Up 1% - Time to Buy?

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) traded up 1% during mid-day trading on Thursday . The company traded as high as $367.47 and last traded at $362.06. 1,476,971 shares were traded during trading, a decline of 75% from the average session volume of 6,025,919 shares. The stock had previously closed at $358.35.

Analyst Ratings Changes

APP has been the topic of several analyst reports. Benchmark reiterated a "buy" rating and set a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Oppenheimer restated an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. The Goldman Sachs Group raised their target price on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. UBS Group upped their price target on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company boosted their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $433.85.

AppLovin Stock Performance

The stock has a market cap of $121.16 billion, a PE ratio of 78.80, a P/E/G ratio of 3.02 and a beta of 2.39. 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 50-day simple moving average of $290.23 and a 200-day simple moving average of $321.52.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The business's quarterly revenue was up 40.3% compared to the same quarter last year. Equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 6,599 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $369.35, for a total value of $2,437,340.65. Following the sale, the insider now owns 344,256 shares in the company, valued at approximately $127,150,953.60. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction on 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 approximately $1,230,527,667.32. This trade represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,132,654 shares of company stock worth $414,627,485. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in shares of AppLovin in the 4th quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin during the fourth quarter worth approximately $25,000. Atala Financial Inc bought a new stake in shares of AppLovin during the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in AppLovin during the 1st quarter worth approximately $27,000. Finally, Riverview Trust Co grew its holdings 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 acquiring an additional 82 shares during the last quarter. Institutional investors 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.

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