AppLovin Co. (NASDAQ:APP) Shares Sold by Sugar Maple Asset Management LLC

Sugar Maple Asset Management LLC cut its position in AppLovin Co. (NASDAQ:APP) by 27.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,200 shares of the company’s stock after selling 465 shares during the period. Sugar Maple Asset Management LLC’s holdings in AppLovin were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in APP. Ballentine Partners LLC raised its stake in AppLovin by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 8,409 shares of the company’s stock valued at $2,723,000 after acquiring an additional 305 shares during the last quarter. Amplius Wealth Advisors LLC purchased a new stake in AppLovin during the 4th quarter valued at approximately $238,000. MassMutual Private Wealth & Trust FSB raised its stake in AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after acquiring an additional 89 shares during the last quarter. UMB Bank n.a. raised its stake in AppLovin by 16.9% during the 4th quarter. UMB Bank n.a. now owns 1,056 shares of the company’s stock valued at $342,000 after acquiring an additional 153 shares during the last quarter. Finally, Mandatum Life Insurance Co Ltd purchased a new stake in AppLovin during the 4th quarter valued at approximately $431,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 888,867 shares of company stock valued at $284,773,062. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of a number of analyst reports. Bank of America increased their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Benchmark started coverage on AppLovin in a research note on Friday, January 10th. They set a “buy” rating and a $375.00 target price for the company. Macquarie raised their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, BTIG Research raised their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.06.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $342.34 on Tuesday. The company has a market cap of $114.89 billion, a P/E ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $40.71 and a 52 week high of $417.64. The business has a fifty day simple moving average of $331.86 and a 200-day simple moving average of $191.58.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. Equities research analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

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.