AppLovin (NASDAQ:APP) Rating Lowered to Neutral at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of AppLovin (NASDAQ:APP) from a buy rating to a neutral rating in a research note released on Monday, MarketBeat.com reports. The Goldman Sachs Group currently has $150.00 price objective on the stock, up from their previous price objective of $103.00.

Other equities research analysts have also recently issued reports about the company. Wedbush reduced their price objective on AppLovin from $100.00 to $90.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Oppenheimer reissued an outperform rating and set a $105.00 target price (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Jefferies Financial Group raised their price target on AppLovin from $105.00 to $108.00 and gave the stock a buy rating in a research report on Tuesday, September 10th. Citigroup boosted their price objective on shares of AppLovin from $110.00 to $155.00 and gave the company a buy rating in a research report on Thursday, September 19th. Finally, UBS Group upgraded shares of AppLovin from a neutral rating to a buy rating and raised their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $110.01.

AppLovin Stock Down 1.2 %

NASDAQ APP opened at $145.30 on Monday. The stock has a 50 day moving average price of $106.26 and a 200-day moving average price of $88.31. AppLovin has a one year low of $34.45 and a one year high of $148.48. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market capitalization of $47.81 billion, a P/E ratio of 86.49, a P/E/G ratio of 2.07 and a beta of 1.92.

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

Insider Activity

In related news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 610,094 shares of company stock valued at $51,022,478. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its position in shares of AppLovin by 251.2% during the third quarter. Creative Planning now owns 144,883 shares of the company’s stock valued at $18,914,000 after buying an additional 103,628 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of AppLovin during the 3rd quarter worth approximately $42,000. Annex Advisory Services LLC lifted its position in AppLovin by 21.0% during the third quarter. Annex Advisory Services LLC now owns 242,219 shares of the company’s stock valued at $31,622,000 after acquiring an additional 42,073 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new stake in AppLovin in the third quarter valued at approximately $513,000. Finally, Ritholtz Wealth Management grew its holdings in AppLovin by 106.3% in the third quarter. Ritholtz Wealth Management now owns 15,420 shares of the company’s stock worth $2,013,000 after purchasing an additional 7,946 shares during the last quarter. Hedge funds and other institutional investors 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.