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

AppLovin (NASDAQ:APP - Get Free Report)'s stock had its "hold" rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports.

Other research analysts also recently issued reports about the company. UBS Group boosted their price objective on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Piper Sandler boosted their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Bank of America raised their target price on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group upped their price target on AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.28.

AppLovin Trading Up 4.8 %

NASDAQ:APP traded up $13.96 during trading hours on Monday, hitting $306.85. 8,859,695 shares of the company were exchanged, compared to its average volume of 5,166,813. The company has a fifty day simple moving average of $356.03 and a 200 day simple moving average of $270.72. AppLovin has a one year low of $60.67 and a one year high of $525.15. The stock has a market capitalization of $104.32 billion, a price-to-earnings ratio of 67.59, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. Sell-side analysts expect that AppLovin will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares of the company's stock, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company's stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of AppLovin during the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. raised its position in shares of AppLovin by 5,421.4% in the fourth 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 in the last quarter. Norges Bank bought a new stake in AppLovin during the fourth quarter valued at $828,138,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after purchasing an additional 2,373,885 shares during the last quarter. 41.85% of the stock is currently 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.