AppLovin (NASDAQ:APP) Now Covered by Argus

Argus began coverage on shares of AppLovin (NASDAQ:APP) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $520.00 price target on the stock.

Other research analysts also recently issued reports about the company. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Evercore reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. Oppenheimer dropped their price target on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Finally, Arete Research set a $340.00 price target on AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Nineteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.95.

AppLovin Stock Up 3.8%

Shares of NASDAQ:APP opened at $433.29 on Tuesday. The company has a market capitalization of $146.14 billion, a price-to-earnings ratio of 44.44, a P/E/G ratio of 0.72 and a beta of 2.50. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The business’s 50-day moving average is $424.67 and its 200-day moving average is $550.60. AppLovin has a 1 year low of $222.02 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm’s revenue was up 66.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. Equities research analysts predict that AppLovin will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the completion of the sale, the chief technology officer directly owned 30,658 shares of the company’s stock, valued at approximately $14,638,275.26. The trade was a 14.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 365,244 shares of company stock valued at $169,584,607. Corporate insiders own 13.66% of the company’s stock.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. grew its holdings in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of AppLovin in the third quarter valued at approximately $29,000. Board of the Pension Protection Fund bought a new position in shares of AppLovin in the fourth quarter valued at approximately $27,000. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin in the fourth quarter valued at approximately $27,000. Finally, Activest Wealth Management grew its holdings in shares of AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.