AppLovin (NASDAQ:APP) Trading Up 1.8% - Still a Buy?

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) traded up 1.8% during trading on Thursday . The stock traded as high as $336.56 and last traded at $329.50. 1,613,270 shares changed hands during trading, a decline of 65% from the average session volume of 4,582,203 shares. The stock had previously closed at $323.83.

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Daiwa Capital Markets upgraded AppLovin from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Wedbush reissued an "outperform" rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. UBS Group upgraded shares of AppLovin from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Oppenheimer restated an "outperform" rating and set a $480.00 price target on shares of AppLovin in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group boosted their price objective on AppLovin from $270.00 to $400.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $310.71.

AppLovin Price Performance

The company has a market cap of $114.70 billion, a PE ratio of 103.57, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. The stock has a fifty day simple moving average of $294.60 and a two-hundred day simple moving average of $167.87. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm's revenue was up 38.6% on a year-over-year basis. On average, equities analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares of the company's stock, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of AppLovin stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the sale, the director now owns 2,987 shares of the company's stock, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 over the last quarter. Corporate insiders own 14.69% of the company's stock.

Hedge Funds Weigh In On AppLovin

Large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of AppLovin by 17.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,195 shares of the company's stock worth $1,431,000 after purchasing an additional 2,566 shares during the period. Principal Financial Group Inc. grew its stake in AppLovin by 894.7% during the second quarter. Principal Financial Group Inc. now owns 179,114 shares of the company's stock worth $14,906,000 after buying an additional 161,107 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in AppLovin by 43.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,111 shares of the company's stock worth $592,000 after buying an additional 2,161 shares during the period. nVerses Capital LLC increased its position in shares of AppLovin by 160.0% in the second quarter. nVerses Capital LLC now owns 1,300 shares of the company's stock worth $108,000 after acquiring an additional 800 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of AppLovin in the 2nd quarter valued at $622,000. Hedge funds and other 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.