AppLovin (NASDAQ:APP) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of AppLovin (NASDAQ:APP) in a research note released on Wednesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $400.00 target price on the stock.

APP has been the subject of several other research reports. Oppenheimer upped their price target on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Bank of America lifted their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

AppLovin Stock Performance

Shares of APP opened at $325.22 on Wednesday. The company’s 50 day simple moving average is $172.62 and its 200-day simple moving average is $113.92. AppLovin has a 12-month low of $35.79 and a 12-month high of $342.51. The firm has a market cap of $109.14 billion, a PE ratio of 98.55, a price-to-earnings-growth ratio of 3.58 and a beta of 1.86. 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 (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $0.30 earnings per share. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities analysts predict that AppLovin will post 4.06 EPS for the current year.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,376 shares of company stock worth $30,737,619 in the last ninety days. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI increased its stake in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after purchasing an additional 60 shares in the last quarter. HM Payson & Co. lifted its stake in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after buying an additional 104 shares in the last quarter. Finally, Ashton Thomas Securities LLC lifted its position in AppLovin by 2.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after acquiring an additional 121 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other 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.