AppLovin (NASDAQ:APP – Get Free Report) had its target price lifted by stock analysts at Wells Fargo & Company from $360.00 to $366.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 13.99% from the stock’s current price.
Several other equities research analysts have also issued reports on APP. Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Macquarie lifted their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.06.
Get Our Latest Stock Report on AppLovin
AppLovin Trading Up 1.7 %
AppLovin (NASDAQ:APP – Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. As a group, sell-side analysts forecast that AppLovin will post 4.06 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock valued at $284,773,062 in the last three months. Company insiders own 14.69% of the company’s stock.
Institutional Trading of AppLovin
A number of institutional investors and hedge funds have recently modified their holdings of the company. National Bank of Canada FI grew its position in AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the period. Versant Capital Management Inc grew its position in AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares during the period. Great Valley Advisor Group Inc. grew its position in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares during the period. HM Payson & Co. grew its position in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, Aptus Capital Advisors LLC grew its position in 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 acquiring an additional 104 shares during the period. 41.85% of the stock is currently owned by 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.
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