AppLovin (NASDAQ:APP) Trading Up 0.7% – Time to Buy?

AppLovin Co. (NASDAQ:APP)’s stock price shot up 0.7% on Wednesday . The company traded as high as $344.09 and last traded at $340.25. 929,275 shares changed hands during trading, a decline of 80% from the average session volume of 4,593,792 shares. The stock had previously closed at $337.89.

Analyst Ratings Changes

APP has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Benchmark reaffirmed a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Piper Sandler assumed coverage on shares of AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target on the stock. Bank of America increased their price target on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Loop Capital lifted their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $296.40.

AppLovin Trading Down 5.5 %

The business’s 50 day simple moving average is $253.97 and its 200-day simple moving average is $148.87. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $107.12 billion, a P/E ratio of 96.72, a PEG ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Insiders Place Their Bets

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 872,896 shares of company stock valued at $279,773,021 over the last 90 days. 14.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppLovin

A number of institutional investors and hedge funds have recently modified their holdings of APP. FMR LLC increased its position in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of AppLovin in the 2nd quarter worth about $290,655,000. 1832 Asset Management L.P. raised its position in AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares during the period. WCM Investment Management LLC raised its position in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares during the period. 41.85% of the stock is currently owned by institutional investors.

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.