AppLovin (NASDAQ:APP) Shares Up 0.6% - Still a Buy?

AppLovin Co. (NASDAQ:APP - Get Free Report) traded up 0.6% on Monday . The company 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APP. Citigroup boosted their price target on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Piper Sandler increased their price target on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Benchmark reaffirmed a "buy" rating and set a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. Finally, Jefferies Financial Group lifted their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $433.85.

AppLovin Price Performance

The firm has a market capitalization of $119.89 billion, a P/E ratio of 78.04, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. 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 firm has a 50 day moving average price of $291.13 and a 200-day moving average price of $322.85.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating 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 business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business's revenue for the quarter was up 40.3% on a year-over-year basis. On average, analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 570 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $371.12, for a total transaction of $211,538.40. Following the transaction, the director now directly owns 6,231 shares in the company, valued at $2,312,448.72. This trade represents a 8.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares of the company's stock, valued at approximately $1,179,045,567.88. 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 three months, insiders have sold 1,277,654 shares of company stock worth $465,170,665. 14.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AppLovin

Institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Tcfg Wealth Management LLC purchased a new stake in shares of AppLovin during the fourth quarter worth about $369,000. Caprock Group LLC increased its holdings in shares of AppLovin by 42.2% during the fourth quarter. Caprock Group LLC now owns 42,146 shares of the company's stock valued at $13,648,000 after acquiring an additional 12,500 shares in the last quarter. Capital Advisory Group Advisory Services LLC purchased a new position in shares of AppLovin in the fourth quarter worth $213,000. Finally, Jennison Associates LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $414,462,000. Hedge funds and other institutional investors 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.