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

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

A number of other research analysts have also commented on APP. The Goldman Sachs Group decreased their price objective on AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. FBN Securities started coverage on shares of AppLovin in a research report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target on the stock. Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. UBS Group cut their price target on AppLovin from $630.00 to $450.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler lowered their price objective on AppLovin from $575.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $414.05.

AppLovin Price Performance

NASDAQ:APP opened at $267.88 on Tuesday. The firm’s fifty day moving average price is $295.54 and its two-hundred day moving average price is $299.04. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $91.07 billion, a P/E ratio of 59.00, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data 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%. Equities analysts expect that AppLovin will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin 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 transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last ninety days. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock valued at $41,643,000 after buying an additional 153,248 shares during the period. Invst LLC lifted its stake in shares of AppLovin by 23.2% in the 3rd quarter. Invst LLC now owns 6,812 shares of the company’s stock valued at $889,000 after purchasing an additional 1,284 shares during the period. Virtu Financial LLC acquired a new position in shares of AppLovin in the 3rd quarter valued at about $3,211,000. SOA Wealth Advisors LLC. bought a new stake in shares of AppLovin during the 3rd quarter valued at about $59,000. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in AppLovin during the third quarter worth approximately $228,000. 41.85% of the stock is owned by institutional investors.

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.