AppLovin (NASDAQ:APP) Given New $335.00 Price Target at The Goldman Sachs Group

AppLovin (NASDAQ:APP) had its price target trimmed by The Goldman Sachs Group from $500.00 to $335.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on APP. Bank of America raised their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Loop Capital restated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $424.84.

AppLovin Price Performance

Shares of APP opened at $229.81 on Monday. The firm has a 50-day simple moving average of $318.93 and a two-hundred day simple moving average of $294.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin has a 1-year low of $60.67 and a 1-year high of $525.15. The stock has a market cap of $78.13 billion, a PE ratio of 50.62, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last announced its earnings results 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 return on equity of 188.55% and a net margin of 33.54%. As a group, analysts forecast that AppLovin will post 6.87 EPS for the current year.

Insiders Place Their Bets

In related news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction 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 transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI raised its stake 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 worth $131,000 after buying an additional 39 shares in the last quarter. Barclays PLC raised its position in 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 in the last quarter. Toronto Dominion Bank lifted its holdings in AppLovin by 38.8% in the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock valued at $3,286,000 after acquiring an additional 7,039 shares during the period. TD Private Client Wealth LLC boosted its position in shares of AppLovin by 272.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 305 shares of the company’s stock worth $40,000 after purchasing an additional 223 shares in the last quarter. Finally, Invst LLC grew its stake in shares of AppLovin by 23.2% during the 3rd quarter. Invst LLC now owns 6,812 shares of the company’s stock worth $889,000 after purchasing an additional 1,284 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.