AppLovin (NASDAQ:APP) Coverage Initiated at Loop Capital

Loop Capital assumed coverage on shares of AppLovin (NASDAQ:APP) in a report released on Tuesday, Marketbeat reports. The firm issued a buy rating and a $181.00 target price on the stock.

APP has been the subject of several other research reports. BTIG Research increased their price objective on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America lifted their price target on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Macquarie reaffirmed an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.58.

AppLovin Trading Up 1.7 %

NASDAQ:APP opened at $161.63 on Tuesday. The stock has a fifty day moving average price of $119.72 and a two-hundred day moving average price of $93.11. The stock has a market capitalization of $53.18 billion, a price-to-earnings ratio of 96.21, a PEG ratio of 2.07 and a beta of 1.92. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. AppLovin has a 1 year low of $34.45 and a 1 year high of $165.38.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s revenue was up 44.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. As a group, sell-side analysts anticipate that AppLovin will post 3.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of AppLovin by 8.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after purchasing an additional 126 shares in the last quarter. American Trust lifted its stake in shares of AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after purchasing an additional 150 shares in the last quarter. Highland Capital Management LLC lifted its stake in shares of AppLovin by 0.5% in the 1st quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock valued at $1,946,000 after purchasing an additional 153 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of AppLovin by 1.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after purchasing an additional 157 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of AppLovin by 10.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock valued at $184,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.