AppLovin (NASDAQ:APP) Shares Up 3.1% – Still a Buy?

AppLovin Co. (NASDAQ:APP) was up 3.1% during mid-day trading on Monday . The stock traded as high as $347.39 and last traded at $342.34. Approximately 4,173,415 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 3,899,418 shares. The stock had previously closed at $332.01.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APP. Benchmark assumed coverage on shares of AppLovin in a report on Friday, January 10th. They issued a “buy” rating and a $375.00 price target on the stock. Bank of America raised their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Oppenheimer restated an “outperform” rating and set a $480.00 target price on shares of AppLovin in a report on Tuesday, December 10th. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $338.06.

AppLovin Stock Up 3.1 %

The company has a market cap of $114.89 billion, a PE ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company’s fifty day moving average is $330.75 and its 200-day moving average is $189.78.

AppLovin (NASDAQ:APP) last posted its 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 company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now directly owns 6,684 shares in the company, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of large investors have recently made changes to their positions in APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in shares of AppLovin during the third quarter valued at $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the third quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin during the third quarter worth $29,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of AppLovin in the 2nd quarter worth $34,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.