AppLovin (NASDAQ:APP) Shares Up 4.6% - Time to Buy?

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) rose 4.6% on Tuesday . The stock traded as high as $239.95 and last traded at $238.67. Approximately 1,695,154 shares changed hands during trading, a decline of 71% from the average daily volume of 5,815,937 shares. The stock had previously closed at $228.13.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APP. The Goldman Sachs Group decreased their target price on AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group cut their target price on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley upgraded AppLovin from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $470.00 to $350.00 in a research note on Thursday, April 10th. Finally, FBN Securities began coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $414.05.

AppLovin Trading Up 3.3 %

The firm has a 50-day moving average of $291.16 and a 200 day moving average of $301.05. The company has a market cap of $94.11 billion, a P/E ratio of 60.98, 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.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of APP. Barclays PLC boosted its holdings in AppLovin by 92.5% during the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after acquiring an additional 153,248 shares during the last quarter. Invst LLC boosted its holdings in AppLovin by 23.2% during the third quarter. Invst LLC now owns 6,812 shares of the company's stock worth $889,000 after purchasing an additional 1,284 shares during the last quarter. Virtu Financial LLC purchased a new position in AppLovin during the third quarter worth about $3,211,000. SOA Wealth Advisors LLC. bought a new stake in AppLovin in the 3rd quarter worth about $59,000. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in AppLovin in the 3rd quarter valued at about $228,000. 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.