AppLovin (NASDAQ:APP) Downgraded by Wall Street Zen to Hold

AppLovin (NASDAQ:APP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

Several other research firms have also weighed in on APP. Wells Fargo & Company lifted their target price on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Benchmark reiterated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. Finally, Oppenheimer restated an "outperform" rating and issued a $500.00 price target (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $438.43.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $364.46 on Friday. The business has a 50-day moving average of $362.51 and a two-hundred day moving average of $335.09. The firm has a market capitalization of $123.33 billion, a PE ratio of 65.79, a P/E/G ratio of 2.16 and a beta of 2.42. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The company's revenue for the quarter was up 40.3% on a year-over-year basis. As a group, research analysts forecast that AppLovin will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 34,766 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $353.64, for a total value of $12,294,648.24. Following the sale, the chief technology officer owned 70,889 shares of the company's stock, valued at $25,069,185.96. This trade represents a 32.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total value of $36,751,000.00. Following the sale, the chief executive officer directly owned 2,760,363 shares in the company, valued at approximately $1,014,461,006.13. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Company insiders own 13.66% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin in the 4th quarter valued at approximately $25,000. Atala Financial Inc bought a new stake in AppLovin during the first quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin during the 1st quarter valued at $27,000. Tucker Asset Management LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at $28,000. Finally, ORG Wealth Partners LLC bought a new position in AppLovin in the 1st quarter worth approximately $29,000. 41.85% of the stock is owned by hedge funds and other 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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