AppLovin (NASDAQ:APP) Now Covered by FBN Securities

Investment analysts at FBN Securities initiated coverage on shares of AppLovin (NASDAQ:APP) in a research report issued on Friday, MarketBeat reports. The brokerage set an “outperform” rating and a $385.00 price target on the stock. FBN Securities’ price target would suggest a potential upside of 47.12% from the company’s previous close.

Several other research firms also recently issued reports on APP. UBS Group increased their target price on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Trading Down 20.1 %

Shares of APP opened at $261.70 on Friday. AppLovin has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The business has a 50-day moving average of $353.26 and a 200 day moving average of $280.42. The firm has a market cap of $88.97 billion, a P/E ratio of 57.64, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, research analysts forecast that AppLovin will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently added to or reduced their stakes in APP. Townsquare Capital LLC increased its holdings in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares during the period. State Street Corp increased its stake in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares during the period. Zacks Investment Management raised its holdings in shares of AppLovin by 328.1% during the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after acquiring an additional 81,331 shares in the last quarter. Toronto Dominion Bank boosted its holdings in AppLovin by 38.8% in the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock valued at $3,286,000 after acquiring an additional 7,039 shares in the last quarter. Finally, Oxinas Partners Wealth Management LLC purchased a new position in AppLovin during the 4th quarter valued at $1,081,000. Institutional investors own 41.85% of the company’s stock.

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.