UBS Group Cuts AppLovin (NASDAQ:APP) Price Target to $450.00

AppLovin (NASDAQ:APP) had its target price trimmed by UBS Group from $630.00 to $450.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

APP has been the topic of a number of other research reports. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Piper Sandler reduced their price target on shares of AppLovin from $575.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday. FBN Securities assumed coverage on shares of AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective on the stock. Finally, Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $424.84.

AppLovin Trading Down 5.3 %

Shares of APP opened at $249.95 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $84.97 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 3.02 and a beta of 2.39. The company has a 50-day moving average of $327.20 and a 200 day moving average of $294.56. AppLovin has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, research analysts expect that AppLovin will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Large investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin during the fourth quarter worth about $25,000. Riverview Trust Co lifted its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC acquired a new stake in AppLovin in the 4th quarter worth about $28,000. Finally, Hemington Wealth Management grew its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the period. 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.