AppLovin (NASDAQ:APP) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of AppLovin (NASDAQ:APP) in a research note published on Tuesday morning,Benzinga reports.

A number of other research analysts have also issued reports on APP. UBS Group boosted their target price on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Wedbush reissued an “outperform” rating and issued a $620.00 price objective on shares of AppLovin in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group boosted their price target on shares of AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $478.81.

AppLovin Stock Up 4.5%

Shares of NASDAQ:APP opened at $483.75 on Tuesday. The firm’s 50 day moving average price is $384.32 and its 200 day moving average price is $347.60. The stock has a market cap of $163.63 billion, a price-to-earnings ratio of 68.71, a price-to-earnings-growth ratio of 2.59 and a beta of 2.43. AppLovin has a fifty-two week low of $82.51 and a fifty-two week high of $525.15. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company earned $0.89 EPS. The business’s quarterly revenue was up 77.1% on a year-over-year basis. As a group, equities research analysts predict that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Victoria Valenzuela sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $450.00, for a total transaction of $6,750,000.00. Following the sale, the insider owned 304,955 shares in the company, valued at approximately $137,229,750. This trade represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 26,200 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer owned 2,590,054 shares in the company, valued at $1,140,219,472.42. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,236,152 shares of company stock worth $545,240,378 over the last ninety days. 13.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avestar Capital LLC lifted its position in AppLovin by 2.1% during the second quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock valued at $391,000 after buying an additional 23 shares in the last quarter. Forum Financial Management LP lifted its position in AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after acquiring an additional 33 shares in the last quarter. Vestcor Inc lifted its position in AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock worth $1,088,000 after acquiring an additional 33 shares in the last quarter. RWA Wealth Partners LLC lifted its position in AppLovin by 0.4% during the 2nd quarter. RWA Wealth Partners LLC now owns 7,680 shares of the company’s stock worth $2,689,000 after acquiring an additional 33 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of AppLovin by 0.8% during the second quarter. Geneos Wealth Management Inc. now owns 4,431 shares of the company’s stock worth $1,551,000 after purchasing an additional 33 shares in 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.