AppLovin (NASDAQ:APP) Stock Price Up 0.6% - Time to Buy?

AppLovin Co. (NASDAQ:APP - Get Free Report) shares shot up 0.6% on Monday . The stock traded as high as $369.84 and last traded at $364.56. 1,932,243 shares were traded during trading, a decline of 68% from the average session volume of 6,017,118 shares. The stock had previously closed at $362.34.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Benchmark reiterated a "buy" rating and issued a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. UBS Group lifted their price target on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Citigroup raised their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $433.85.

AppLovin Trading Up 2.3%

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company's fifty day moving average is $285.14 and its 200-day moving average is $319.52. The firm has a market capitalization of $126.00 billion, a P/E ratio of 81.64, a P/E/G ratio of 3.02 and a beta of 2.39.

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

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This trade represents a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 570 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $371.12, for a total value of $211,538.40. Following the completion of the sale, the director now owns 6,231 shares in the company, valued at $2,312,448.72. This represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Institutional investors have recently modified their holdings of the business. GHP Investment Advisors Inc. purchased a new position in AppLovin during the 4th quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin in the fourth quarter worth about $25,000. Atala Financial Inc purchased a new position in AppLovin during the first quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin during the first quarter valued at approximately $27,000. Finally, Riverview Trust Co increased its holdings in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. 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.

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