AppLovin (NASDAQ:APP) Trading 0.6% Higher – Should You Buy?

AppLovin Co. (NASDAQ:APP) shares traded up 0.6% during mid-day trading on Friday . The stock traded as high as $309.56 and last traded at $308.63. 2,468,933 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 5,217,479 shares. The stock had previously closed at $306.74.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Jefferies Financial Group boosted their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. UBS Group boosted their price objective on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Bank of America boosted their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Trading Up 2.4 %

The company has a market cap of $106.76 billion, a P/E ratio of 69.17, a PEG ratio of 3.02 and a beta of 2.33. 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 business has a 50 day moving average price of $353.83 and a 200-day moving average price of $275.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data 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%. Analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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

Several large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the period. SVB Wealth LLC bought a new position in AppLovin during the 4th quarter worth $1,781,922,000. State Street Corp increased its position in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the period. Geode Capital Management LLC increased its position in AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after buying an additional 573,310 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. 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.