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

Needham & Company LLC reaffirmed their hold rating on shares of AppLovin (NASDAQ:APP - Free Report) in a research note published on Monday morning,Benzinga reports.

APP has been the topic of several other research reports. FBN Securities began coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective on the stock. Piper Sandler reduced their price target on AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Citigroup upped their target price on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Jefferies Financial Group raised their price target on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised shares of AppLovin from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $470.00 to $350.00 in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus price target of $414.05.

AppLovin Price Performance

NASDAQ:APP traded up $15.53 during trading hours on Monday, reaching $267.88. 6,752,631 shares of the company traded hands, compared to its average volume of 5,869,817. AppLovin has a 1-year low of $60.67 and a 1-year high of $525.15. The stock has a market cap of $91.07 billion, a P/E ratio of 59.00, a P/E/G ratio of 3.02 and a beta of 2.39. The firm's 50-day moving average is $300.39 and its 200-day moving average is $298.16. 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 (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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%. Equities research analysts expect that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction on 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 transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Several large investors have recently modified their holdings of the business. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the 4th quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin during the 4th quarter valued at approximately $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin during the first quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin in the first quarter worth $27,000. Finally, Riverview Trust Co raised its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. 41.85% of the stock is currently 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.