Sugar Maple Asset Management LLC Invests $217,000 in AppLovin Co. (NASDAQ:APP)

Sugar Maple Asset Management LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) during the third quarter, HoldingsChannel reports. The institutional investor purchased 1,665 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APP. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of AppLovin by 9,470.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after buying an additional 248,022 shares during the period. WCM Investment Management LLC raised its stake in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. Acadian Asset Management LLC lifted its position in shares of AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares in the last quarter. Smithbridge Asset Management Inc. DE purchased a new position in shares of AppLovin in the third quarter valued at $7,086,000. Finally, Clearbridge Investments LLC boosted its stake in shares of AppLovin by 73.0% in the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock valued at $74,344,000 after purchasing an additional 376,835 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Up 2.3 %

NASDAQ:APP opened at $291.09 on Friday. The stock has a fifty day simple moving average of $159.14 and a 200 day simple moving average of $108.84. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $97.69 billion, a price-to-earnings ratio of 88.21, a price-to-earnings-growth ratio of 3.58 and a beta of 1.86. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $302.55.

AppLovin (NASDAQ:APP) last released its 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. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 38.6% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Loop Capital raised their price target on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup raised their price objective on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Benchmark restated a “sell” rating and issued a $66.00 target price on shares of AppLovin in a research note on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $194.31.

AppLovin 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.