AppLovin (NASDAQ:APP) Upgraded at Arete Research

Arete Research upgraded shares of AppLovin (NASDAQ:APP) to a strong sell rating in a report released on Wednesday,Zacks.com reports.

APP has been the topic of a number of other research reports. Loop Capital raised their price target on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. UBS Group raised their target price on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Bank of America lifted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $452.29.

AppLovin Price Performance

APP stock opened at $270.48 on Wednesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin has a one year low of $59.30 and a one year high of $525.15. The stock has a market cap of $90.77 billion, a PE ratio of 59.58, a P/E/G ratio of 3.02 and a beta of 2.33. The firm has a 50 day simple moving average of $365.13 and a two-hundred day simple moving average of $259.26.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating 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%. On average, analysts predict that AppLovin will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 406,447 shares of company stock valued at $140,537,281 over the last quarter. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently modified their holdings of the stock. New York State Teachers Retirement System lifted its holdings in AppLovin by 97.8% during the 3rd quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock worth $1,939,000 after buying an additional 7,342 shares during the last quarter. Farther Finance Advisors LLC raised its stake in AppLovin by 150.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock valued at $133,000 after acquiring an additional 613 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in AppLovin by 2.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 52,214 shares of the company’s stock valued at $6,817,000 after acquiring an additional 1,084 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in AppLovin during the 3rd quarter valued at $25,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of AppLovin during the 3rd quarter valued at $1,730,000. Institutional investors and hedge funds 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.