AppLovin (NASDAQ:APP) Trading 0.1% Higher – Time to Buy?

AppLovin Co. (NASDAQ:APP) shares shot up 0.1% during mid-day trading on Tuesday . The company traded as high as $348.00 and last traded at $345.12. 464,988 shares changed hands during trading, a decline of 90% from the average session volume of 4,613,685 shares. The stock had previously closed at $344.82.

Analyst Upgrades and Downgrades

APP has been the subject of several research reports. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price for the company. Jefferies Financial Group lifted their target price on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, BTIG Research upped their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $310.71.

AppLovin Price Performance

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 company has a market capitalization of $114.72 billion, a P/E ratio of 103.59, a P/E/G ratio of 4.17 and a beta of 2.28. The company has a 50 day moving average price of $276.61 and a 200 day moving average price of $158.94.

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

Insider Transactions at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last quarter. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. lifted its position in AppLovin by 43.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 6,391 shares of the company’s stock worth $841,000 after purchasing an additional 1,929 shares during the period. Franklin Resources Inc. raised its position in shares of AppLovin by 37.0% in the 3rd quarter. Franklin Resources Inc. now owns 996,996 shares of the company’s stock valued at $130,158,000 after buying an additional 269,134 shares in the last quarter. Castellan Group bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $8,799,000. Optimist Retirement Group LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $284,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $833,000. Institutional investors and hedge funds 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.