AppLovin (NASDAQ:APP) Coverage Initiated at FBN Securities

FBN Securities assumed coverage on shares of AppLovin (NASDAQ:APP - Free Report) in a research note published on Friday morning, Marketbeat.com reports. The firm issued an outperform rating and a $385.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. Oppenheimer restated an "outperform" rating on shares of AppLovin in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Macquarie increased their target price on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Jefferies Financial Group increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $435.47.

Remove Ads

AppLovin Stock Down 3.7 %

NASDAQ:APP traded down $10.12 during midday trading on Friday, hitting $262.26. 6,650,117 shares of the company were exchanged, compared to its average volume of 5,485,515. The company has a fifty day simple moving average of $351.86 and a 200 day simple moving average of $284.38. The company has a market capitalization of $89.16 billion, a PE ratio of 57.63, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last issued 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 return on equity of 188.55% and a net margin of 33.54%. As a group, equities analysts anticipate that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction that occurred on 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 sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

A number of hedge funds have recently added to or reduced their stakes in APP. FMR LLC boosted its holdings in shares of AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after buying an additional 5,957,885 shares during the period. SVB Wealth LLC bought a new position in AppLovin in the fourth quarter worth about $1,781,922,000. Baillie Gifford & Co. boosted its stake in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Norges Bank bought a new position in shares of AppLovin during the fourth quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after purchasing an additional 2,373,885 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

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.