AppLovin (NASDAQ:APP) Stock Price Up 2.3% - Still a Buy?

AppLovin Co. (NASDAQ:APP - Get Free Report)'s share price shot up 2.3% during trading on Wednesday . The company traded as high as $373.01 and last traded at $371.56. 2,056,359 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 6,014,580 shares. The stock had previously closed at $363.06.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APP shares. Arete Research set a $200.00 price objective on shares of AppLovin in a research report on Wednesday, March 5th. Benchmark reiterated a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. Jefferies Financial Group lifted their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Oppenheimer restated an "outperform" rating and set a $500.00 target price (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $433.85.

AppLovin Trading Up 0.5%

The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a 50 day simple moving average of $288.92 and a two-hundred day simple moving average of $321.26. The company has a market cap of $123.50 billion, a PE ratio of 81.31, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,119,470 shares of company stock worth $409,752,180 over the last three months. Company insiders own 14.69% of the company's stock.

Institutional Trading of AppLovin

A number of institutional investors have recently modified their holdings of APP. JFS Wealth Advisors LLC increased its holdings in AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock worth $34,000 after purchasing an additional 29 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in shares of AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after purchasing an additional 31 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after purchasing an additional 33 shares in the last quarter. Forum Financial Management LP boosted its holdings in AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after acquiring an additional 33 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in AppLovin by 0.8% in the first quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after acquiring an additional 33 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

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.

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