FBN Securities Begins Coverage on AppLovin (NASDAQ:APP)

FBN Securities began coverage on shares of AppLovin (NASDAQ:APP) in a note issued to investors on Friday, Marketbeat reports. The firm set an “outperform” rating and a $385.00 price target on the stock. FBN Securities’ price objective indicates a potential upside of 41.35% from the company’s previous close.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. upped their price objective on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. UBS Group upped their price target on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Benchmark upped their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Finally, Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $435.47.

AppLovin Stock Performance

Shares of AppLovin stock opened at $272.38 on Friday. The business’s fifty day simple moving average is $351.86 and its 200 day simple moving average is $283.07. 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 has a 12 month low of $60.67 and a 12 month high of $525.15. The firm has a market capitalization of $92.60 billion, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that AppLovin will post 6.87 EPS for the current year.

Insider Activity

In related news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Large investors have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin in the fourth quarter valued at $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co increased its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in AppLovin in the fourth quarter worth about $28,000. Finally, Hemington Wealth Management boosted its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. 41.85% of the stock is currently 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.