AppLovin (NASDAQ:APP) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of AppLovin (NASDAQ:APP) in a research note issued to investors on Monday,Benzinga reports.

Other analysts also recently issued reports about the stock. Jefferies Financial Group upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. FBN Securities started coverage on AppLovin in a research report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $560.00 price objective on shares of AppLovin in a report on Thursday, March 27th. Wells Fargo & Company dropped their target price on AppLovin from $538.00 to $386.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup lifted their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $424.84.

AppLovin Trading Down 4.2 %

NASDAQ:APP opened at $228.13 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a fifty day simple moving average of $310.23 and a 200-day simple moving average of $298.90. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a market capitalization of $77.55 billion, a P/E ratio of 50.25, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities research analysts anticipate that AppLovin will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated 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 sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % 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, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares during the period. SVB Wealth LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. increased its holdings in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. Norges Bank acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after acquiring an additional 2,373,885 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

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.