AppLovin (NASDAQ:APP) Now Covered by FBN Securities

Stock analysts at FBN Securities started coverage on shares of AppLovin (NASDAQ:APP) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm 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 current price.

A number of other brokerages have also recently commented on APP. Bank of America boosted their price target on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Citigroup increased their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Loop Capital restated a “buy” rating on shares of AppLovin in a research note on Friday. Finally, Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.47.

AppLovin Trading Down 20.1 %

NASDAQ APP opened at $261.70 on Friday. The stock’s 50 day moving average is $353.26 and its 200 day moving average is $280.42. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $88.97 billion, a PE ratio of 57.64, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) 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%. Research analysts forecast that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company’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 sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mascagni Wealth Management Inc. bought a new position in AppLovin during the fourth quarter valued at $88,000. 111 Capital purchased a new position in shares of AppLovin during the 4th quarter worth about $1,142,000. Wealth Enhancement Advisory Services LLC grew its holdings in AppLovin by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 105,925 shares of the company’s stock valued at $34,302,000 after purchasing an additional 2,793 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in AppLovin in the 4th quarter worth about $283,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in AppLovin in the fourth quarter worth about $21,804,000. Hedge funds and other 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.