AppLovin Co. (NASDAQ:APP) Receives $435.47 Average PT from Analysts

AppLovin Co. (NASDAQ:APP - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-one brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $435.47.

Several equities analysts recently issued reports on the company. Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Piper Sandler boosted their price objective on AppLovin from $400.00 to $575.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Arete Research set a $200.00 target price on shares of AppLovin in a research note on Wednesday, March 5th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Monday, March 17th. Finally, Loop Capital reissued a "buy" rating and set a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company's stock.

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Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co raised its holdings in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin during the fourth quarter worth approximately $28,000. Finally, Hemington Wealth Management lifted its holdings in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 5.9 %

NASDAQ:APP traded up $12.85 during trading hours on Friday, hitting $232.22. The stock had a trading volume of 13,571,137 shares, compared to its average volume of 5,632,271. AppLovin has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a market cap of $78.95 billion, a PE ratio of 51.15, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a 50 day simple moving average of $340.67 and a two-hundred day simple moving average of $290.34.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Analysts predict that AppLovin will post 6.87 EPS for the current year.

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.