Sugar Maple Asset Management LLC Decreases Stock Holdings in AppLovin Co. (NASDAQ:APP)

Sugar Maple Asset Management LLC cut its holdings in AppLovin Co. (NASDAQ:APP) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,200 shares of the company’s stock after selling 465 shares during the quarter. Sugar Maple Asset Management LLC’s holdings in AppLovin were worth $389,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of APP. Capital Performance Advisors LLP bought a new stake in AppLovin in the third quarter worth about $25,000. DT Investment Partners LLC bought a new stake in AppLovin in the third quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin in the third quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in AppLovin in the third quarter worth about $29,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in AppLovin in the second quarter worth about $34,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 3.1 %

Shares of AppLovin stock opened at $342.34 on Tuesday. The firm has a 50-day simple moving average of $331.86 and a two-hundred day simple moving average of $191.58. The company has a market cap of $114.89 billion, a P/E ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, equities analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on 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 sale, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now owns 2,987 shares in the company, valued at $952,673.78. This represents a 85.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. Insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on APP shares. Benchmark started coverage on shares of AppLovin in a research note on Friday, January 10th. They set a “buy” rating and a $375.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a report on Friday, November 8th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $103.00 to $150.00 in a report on Monday, October 14th. Finally, Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $338.06.

AppLovin Company Profile

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.