AppLovin's (APP) "Hold" Rating Reaffirmed at Needham & Company LLC

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

A number of other research analysts have also recently weighed in on APP. Benchmark boosted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Oppenheimer reaffirmed an "outperform" rating and set a $560.00 price target (up from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Jefferies Financial Group raised their price objective on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. UBS Group upped their target price on AppLovin from $440.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and an average target price of $438.28.

AppLovin Trading Down 9.1 %

Shares of APP traded down $28.01 during mid-day trading on Monday, reaching $278.84. The company had a trading volume of 8,617,812 shares, compared to its average volume of 7,640,910. The stock has a market cap of $94.79 billion, a price-to-earnings ratio of 61.42, 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. The firm has a fifty day simple moving average of $356.03 and a 200-day simple moving average of $270.72. AppLovin has a fifty-two week low of $60.67 and a fifty-two week high of $525.15.

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AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly 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%. On average, sell-side analysts anticipate that AppLovin will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 322,871 shares of company stock worth $111,401,882. Corporate insiders own 14.69% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in APP. FMR LLC increased its stake in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new position in AppLovin in the fourth quarter valued at about $1,781,922,000. State Street Corp increased its position in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock worth $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock worth $1,462,144,000 after purchasing an additional 573,310 shares in the last quarter. Finally, Baillie Gifford & Co. lifted 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 valued at $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. Institutional investors and hedge funds 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.