AppLovin (NASDAQ:APP) Trading Up 1.6% - Still a Buy?

AppLovin Corporation (NASDAQ:APP - Get Free Report)'s share price traded up 1.6% during trading on Thursday . The company traded as high as $340.00 and last traded at $341.24. 1,878,352 shares traded hands during trading, a decline of 70% from the average session volume of 6,202,259 shares. The stock had previously closed at $336.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on APP shares. UBS Group upped their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley upped their price target on AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Citigroup restated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. The Goldman Sachs Group upped their price target on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, Loop Capital restated a "buy" rating and issued a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $438.85.

AppLovin Price Performance

The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a 50 day moving average price of $352.35 and a two-hundred day moving average price of $333.89. The firm has a market capitalization of $115.13 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 2.04 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The company's revenue was up 40.3% on a year-over-year basis. As a group, analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 171,420 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40. Following the completion of the transaction, the director directly owned 221,209 shares of the company's stock, valued at $82,681,287.93. The trade was a 43.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 400,000 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the transaction, the director directly owned 221,209 shares of the company's stock, valued at $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Company insiders own 13.66% of the company's stock.

Institutional Trading of AppLovin

Institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin during the 4th quarter worth about $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin in the 1st quarter valued at about $27,000. Tucker Asset Management LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at about $28,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the 1st quarter valued at about $29,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.