AppLovin (NASDAQ:APP) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of AppLovin (NASDAQ:APP) in a research note published on Monday, Marketbeat Ratings reports. The firm issued an overweight rating and a $200.00 price target on the stock.

APP has been the subject of a number of other reports. Loop Capital began coverage on AppLovin in a research report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 target price for the company. Macquarie restated an “outperform” rating and issued a $150.00 price objective (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Wedbush dropped their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America raised their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus increased their price objective on shares of AppLovin from $100.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.78.

AppLovin Stock Down 1.3 %

NASDAQ:APP opened at $169.39 on Monday. The company has a market cap of $56.62 billion, a price-to-earnings ratio of 72.08, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. AppLovin has a twelve month low of $35.79 and a twelve month high of $174.46. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a fifty day simple moving average of $126.27 and a 200-day simple moving average of $95.70.

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, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. Analysts anticipate that AppLovin will post 3.46 EPS for the current year.

Insider Activity at AppLovin

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the sale, the chief financial officer now owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Large investors have recently bought and sold shares of the company. Fred Alger Management LLC acquired a new stake in AppLovin during the 2nd quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC acquired a new position in AppLovin during the first quarter valued at $195,129,000. Jericho Capital Asset Management L.P. boosted its holdings in AppLovin by 185.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares during the last quarter. 1832 Asset Management L.P. grew its position in AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the period. Finally, Jackson Square Partners LLC purchased a new position in shares of AppLovin during the 1st quarter valued at about $54,736,000. 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.