AppLovin (NASDAQ:APP) Price Target Lowered to $270.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP - Free Report) had its price objective decreased by JPMorgan Chase & Co. from $475.00 to $270.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group reduced their target price on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Loop Capital reiterated a "buy" rating and issued a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. Wells Fargo & Company cut their price objective on AppLovin from $538.00 to $386.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Oppenheimer reissued an "outperform" rating and set a $560.00 target price on shares of AppLovin in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $414.05.

AppLovin Price Performance

APP stock traded up $4.17 during mid-day trading on Tuesday, hitting $272.05. The company had a trading volume of 1,525,097 shares, compared to its average volume of 5,862,039. The company has a 50-day moving average price of $295.54 and a 200 day moving average price of $299.04. AppLovin has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a market capitalization of $92.48 billion, a price-to-earnings ratio of 60.02, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 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%. On average, research analysts anticipate that AppLovin will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. Insiders own 14.69% of the company's stock.

Institutional Trading of AppLovin

A number of institutional investors and hedge funds have recently made changes to their positions in APP. Prakash Investment Advisors LLC lifted its position in shares of AppLovin by 359.7% during the 1st quarter. Prakash Investment Advisors LLC now owns 3,195 shares of the company's stock valued at $847,000 after buying an additional 2,500 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of AppLovin in the first quarter valued at about $437,000. Sovran Advisors LLC increased its stake in shares of AppLovin by 100.1% during the first quarter. Sovran Advisors LLC now owns 1,527 shares of the company's stock worth $405,000 after purchasing an additional 764 shares in the last quarter. Colonial River Investments LLC raised its position in shares of AppLovin by 38.4% during the 1st quarter. Colonial River Investments LLC now owns 6,407 shares of the company's stock worth $1,698,000 after purchasing an additional 1,778 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in AppLovin by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 557,269 shares of the company's stock worth $147,660,000 after buying an additional 12,968 shares during the last quarter. 41.85% of the stock is currently 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.