AppLovin (NASDAQ:APP) Shares Up 1.5% – Still a Buy?

Shares of AppLovin Corporation (NASDAQ:APP) shot up 1.5% during trading on Thursday . The company traded as high as $315.88 and last traded at $312.63. 3,998,344 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 5,720,612 shares. The stock had previously closed at $308.11.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on APP shares. William Blair set a $440.00 price target on shares of AppLovin in a research note on Monday, August 17th. Citigroup lowered their price objective on AppLovin from $710.00 to $650.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Royal Bank Of Canada dropped their price target on shares of AppLovin from $700.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings raised AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Finally, Morgan Stanley dropped their target price on AppLovin from $720.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $552.74.

AppLovin Price Performance

The stock’s fifty day moving average price is $415.71 and its 200-day moving average price is $445.83. The firm has a market cap of $104.62 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 0.62 and a beta of 2.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $2.39 earnings per share. AppLovin’s revenue for the quarter was up 52.8% compared to the same quarter last year. Equities research analysts predict that AppLovin Corporation will post 15.53 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the sale, the director owned 120,444 shares of the company’s stock, valued at $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 294,228 shares of company stock worth $148,403,985 in the last quarter. 12.81% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Several large investors have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC bought a new stake in AppLovin during the first quarter worth approximately $25,000. Washington Trust Advisors Inc. increased its holdings in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in AppLovin in the 4th quarter valued at approximately $27,000. Pioneer Family Office LLC bought a new position in AppLovin in the second quarter worth $31,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of AppLovin during the 4th quarter worth about $32,000. Institutional investors own 41.85% of the company’s stock.

About AppLovin

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.