AppLovin (NASDAQ:APP) Trading Up 2.1% – Still a Buy?

AppLovin Corporation (NASDAQ:APP)’s stock price rose 2.1% on Monday . The stock traded as high as $509.00 and last traded at $483.00. Approximately 6,008,927 shares traded hands during trading, an increase of 7% from the average daily volume of 5,614,387 shares. The stock had previously closed at $473.11.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Wedbush boosted their price target on shares of AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Citigroup reduced their price objective on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Zacks Research raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, Jefferies Financial Group boosted their target price on AppLovin from $800.00 to $860.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $706.45.

AppLovin Trading Up 2.1%

The stock’s 50 day simple moving average is $635.34 and its two-hundred day simple moving average is $568.77. The stock has a market capitalization of $163.23 billion, a PE ratio of 58.62, a PEG ratio of 1.56 and a beta of 2.49. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. AppLovin’s revenue was up 68.2% on a year-over-year basis. On average, sell-side analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 4,069 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $497.50, for a total value of $2,024,327.50. Following the sale, the chief executive officer owned 2,998,948 shares of the company’s stock, valued at $1,491,976,630. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the transaction, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 340,336 shares of company stock worth $200,062,623. Insiders own 13.66% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently made changes to their positions in APP. Principal Financial Group Inc. raised its stake in shares of AppLovin by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 337,649 shares of the company’s stock valued at $227,515,000 after purchasing an additional 10,650 shares during the period. Pinnacle Wealth Management Advisory Group LLC purchased a new position in AppLovin during the 4th quarter valued at about $299,000. Truist Financial Corp increased its position in shares of AppLovin by 2.3% during the fourth quarter. Truist Financial Corp now owns 37,669 shares of the company’s stock valued at $25,382,000 after buying an additional 852 shares during the period. Bellecapital International Ltd. purchased a new stake in shares of AppLovin in the fourth quarter worth about $247,000. Finally, Avidian Wealth Enterprises LLC lifted its holdings in shares of AppLovin by 11.3% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,209 shares of the company’s stock worth $815,000 after buying an additional 123 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.