AppLovin (NASDAQ:APP) Given “Sell” Rating at Benchmark

Benchmark reaffirmed their sell rating on shares of AppLovin (NASDAQ:APP) in a report published on Thursday morning,Benzinga reports. The firm currently has a $66.00 price objective on the stock.

APP has been the subject of a number of other reports. Macquarie reaffirmed an “outperform” rating and set a $150.00 price objective (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. BTIG Research raised their target price on shares of AppLovin from $150.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.31.

AppLovin Stock Up 17.6 %

Shares of APP stock opened at $290.01 on Thursday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin has a one year low of $35.79 and a one year high of $292.86. The company’s fifty day moving average price is $139.27 and its 200-day moving average price is $101.52. The company has a market capitalization of $96.94 billion, a price-to-earnings ratio of 87.88, a PEG ratio of 2.43 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.06% and a net margin of 26.85%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Sell-side analysts expect that AppLovin will post 3.47 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 537,787 shares of company stock worth $45,550,284. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. WCM Investment Management LLC increased its position in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. Lone Pine Capital LLC boosted its stake in shares of AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after purchasing an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. increased its holdings in AppLovin by 185.0% during 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 buying an additional 2,525,240 shares during the period. Fred Alger Management LLC bought a new position in AppLovin in the second quarter worth approximately $290,655,000. Finally, Whale Rock Capital Management LLC purchased a new stake in AppLovin during the first quarter worth $195,129,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.