AppLovin (NASDAQ:APP) Sees Unusually-High Trading Volume – Still a Buy?

AppLovin Co. (NASDAQ:APP) saw unusually-high trading volume on Friday . Approximately 6,112,874 shares traded hands during trading, an increase of 14% from the previous session’s volume of 5,362,742 shares.The stock last traded at $273.20 and had previously closed at $261.70.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APP. The Goldman Sachs Group boosted their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Citigroup upped their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Finally, Macquarie raised their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Stock Performance

The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market capitalization of $92.60 billion, a price-to-earnings ratio of 60.00, a P/E/G ratio of 3.02 and a beta of 2.33. The firm has a 50-day simple moving average of $351.86 and a two-hundred day simple moving average of $283.07.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, sell-side analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently modified their holdings of APP. Advisors Asset Management Inc. lifted its stake in AppLovin by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock worth $89,000 after purchasing an additional 322 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of AppLovin by 36.3% in the 3rd quarter. Cerity Partners LLC now owns 18,120 shares of the company’s stock valued at $2,366,000 after buying an additional 4,822 shares in the last quarter. Larson Financial Group LLC grew its position in shares of AppLovin by 9,300.0% in the 3rd quarter. Larson Financial Group LLC now owns 470 shares of the company’s stock valued at $61,000 after buying an additional 465 shares during the last quarter. Private Trust Co. NA raised its stake in AppLovin by 86.7% during the 3rd quarter. Private Trust Co. NA now owns 788 shares of the company’s stock worth $103,000 after acquiring an additional 366 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after acquiring an additional 3,126 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other 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.