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

AppLovin (NASDAQ:APP) had its price target reduced by stock analysts at UBS Group from $630.00 to $450.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 84.15% from the stock’s current price.

Several other equities research analysts have also recently weighed in on APP. Loop Capital reiterated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. FBN Securities started coverage on AppLovin in a research note on Friday, March 28th. They issued an “outperform” rating and a $385.00 price target for the company. Arete Research set a $200.00 price objective on shares of AppLovin in a research report on Wednesday, March 5th. Oppenheimer restated an “outperform” rating and issued a $560.00 price objective on shares of AppLovin in a report on Thursday, March 27th. Finally, Piper Sandler cut their target price on shares of AppLovin from $575.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $424.84.

AppLovin Trading Down 7.4 %

Shares of NASDAQ APP traded down $19.46 during mid-day trading on Friday, hitting $244.37. The stock had a trading volume of 3,124,683 shares, compared to its average volume of 5,718,253. The business has a 50 day moving average price of $329.81 and a two-hundred day moving average price of $292.58. AppLovin has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $83.07 billion, a P/E ratio of 53.63, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last released its quarterly earnings data 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 net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts anticipate that AppLovin will post 6.87 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of APP. Quantinno Capital Management LP increased its holdings in AppLovin by 146.6% in the 3rd quarter. Quantinno Capital Management LP now owns 6,412 shares of the company’s stock worth $837,000 after buying an additional 3,812 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of AppLovin by 4.0% during the 3rd 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 last quarter. Barclays PLC grew its stake in shares of AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after acquiring an additional 153,248 shares during the period. M&T Bank Corp raised its holdings in shares of AppLovin by 54.0% during the third quarter. M&T Bank Corp now owns 36,799 shares of the company’s stock valued at $4,805,000 after purchasing an additional 12,901 shares during the last quarter. Finally, Vestcor Inc lifted its position in AppLovin by 32.9% during the third quarter. Vestcor Inc now owns 3,925 shares of the company’s stock valued at $512,000 after purchasing an additional 972 shares during the period. 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.