AppLovin (NASDAQ:APP) Stock Price Up 0.5% - Time to Buy?

AppLovin Co. (NASDAQ:APP - Get Free Report) rose 0.5% during mid-day trading on Wednesday . The stock traded as high as $379.58 and last traded at $371.79. Approximately 1,983,178 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 6,007,841 shares. The stock had previously closed at $370.10.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on APP shares. HSBC set a $436.00 price target on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Bank of America lifted their target price on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Oppenheimer reaffirmed an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, Loop Capital reissued a "buy" rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $433.85.

AppLovin Trading Down 1.1%

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 business has a 50 day moving average of $283.05 and a two-hundred day moving average of $316.16. The firm has a market capitalization of $123.26 billion, a price-to-earnings ratio of 79.80, a P/E/G ratio of 3.02 and a beta of 2.39.

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

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm'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 directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $21,359,201.85. The trade was a 16.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,119,470 shares of company stock worth $409,752,180 over the last three months. 14.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC purchased a new position in AppLovin in the fourth quarter worth $1,781,922,000. Baillie Gifford & Co. grew its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Dynasty Wealth Management LLC increased its position in shares of AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock valued at $716,133,000 after purchasing an additional 2,700,399 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AppLovin during the 4th quarter worth $828,138,000. 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.