AppLovin (NASDAQ:APP) Receives Buy (B-) Rating from Weiss Ratings

Key Points

• AppLovin received a reaffirmed "buy (B-)" rating from Weiss Ratings, indicating a positive outlook from analysts.
• Analysts have set various price targets for AppLovin's stock, with estimates ranging up to $850.00, reflecting strong investor confidence.
• Insider trading activity has been notable, with significant stock sales by top executives, leading to concerns over insider ownership levels, now at 13.66%.

AppLovin (NASDAQ:APP - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also issued reports on the company. Oppenheimer set a $740.00 price target on AppLovin in a research note on Tuesday. Citigroup raised their price objective on AppLovin from $600.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, October 1st. UBS Group raised their price objective on AppLovin from $540.00 to $810.00 and gave the company a "buy" rating in a report on Friday, September 26th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. Finally, Wedbush raised their price objective on AppLovin from $725.00 to $745.00 and gave the company an "outperform" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $597.38.

AppLovin Price Performance

AppLovin stock traded down $2.15 during mid-day trading on Wednesday, reaching $629.70. 5,452,737 shares of the company were exchanged, compared to its average volume of 7,486,914. AppLovin has a 12 month low of $139.40 and a 12 month high of $745.61. The company has a fifty day simple moving average of $524.30 and a 200-day simple moving average of $395.61. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a market cap of $213.00 billion, a PE ratio of 89.45, a PEG ratio of 3.22 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company posted $0.89 EPS. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, equities research analysts expect that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider directly owned 269,955 shares in the company, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares of the company's stock, valued at $1,470,280,707.28. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in APP. Revolve Wealth Partners LLC bought a new stake in AppLovin in the 4th quarter worth approximately $294,000. Bison Wealth LLC bought a new stake in AppLovin in the 4th quarter worth approximately $239,000. NBC Securities Inc. bought a new stake in AppLovin in the 1st quarter worth approximately $34,000. Farther Finance Advisors LLC grew its position in AppLovin by 13.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,679 shares of the company's stock worth $757,000 after purchasing an additional 327 shares during the period. Finally, Yousif Capital Management LLC grew its position in AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after purchasing an additional 119 shares during the period. Institutional investors own 41.85% of the company's stock.

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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