Maytree Asset Management Ltd Buys New Holdings in AppLovin Corporation $APP

Key Points

• Maytree Asset Management opened a new position in AppLovin, buying 2,980 shares worth about $2.01 million (≈1.5% of its holdings and the firm's 13th largest position); other institutions like Mitsubishi UFJ also increased stakes and institutional ownership stands at 41.85%.
• AppLovin reported a quarter-beating performance with EPS of $3.24 versus $2.89 and revenue of $1.66 billion (up 66% year-over-year); the stock carries a market cap of $161.3 billion and a P/E of 49.04.
• Analysts have a consensus rating of Moderate Buy with a $672.05 price target, while insiders have sold 365,244 shares (~$169.6 million) in the past 90 days but still own 13.66% of the company.

Maytree Asset Management Ltd purchased a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,980 shares of the company's stock, valued at approximately $2,008,000. AppLovin accounts for approximately 1.5% of Maytree Asset Management Ltd's holdings, making the stock its 13th biggest position.

A number of other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in AppLovin by 4.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 568,365 shares of the company's stock valued at $351,431,000 after acquiring an additional 26,252 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of AppLovin by 0.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,637 shares of the company's stock worth $34,794,000 after acquiring an additional 375 shares during the period. Alta Wealth Advisors LLC increased its stake in shares of AppLovin by 0.6% in the fourth quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company's stock worth $2,645,000 after acquiring an additional 24 shares during the period. Nicholas Hoffman & Company LLC. purchased a new position in shares of AppLovin during the fourth quarter worth $363,000. Finally, Highland Capital Management LLC purchased a new position in shares of AppLovin during the fourth quarter worth $1,638,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APP has been the topic of several recent research reports. Arete Research set a $340.00 price target on shares of AppLovin and gave the company a "neutral" rating in a report on Monday, March 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $700.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Wedbush boosted their price objective on AppLovin from $465.00 to $640.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. Citigroup dropped their target price on AppLovin from $820.00 to $710.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. Finally, Morgan Stanley set a $720.00 price target on AppLovin in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus price target of $672.05.

AppLovin Stock Up 0.7%

APP opened at $478.11 on Wednesday. AppLovin Corporation has a fifty-two week low of $290.96 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The company has a fifty day moving average of $438.96 and a two-hundred day moving average of $534.64. The stock has a market capitalization of $161.26 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 0.83 and a beta of 2.37.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the company posted $1.73 EPS. The company's revenue for the quarter was up 66.0% on a year-over-year basis. On average, research analysts expect that AppLovin Corporation will post 15.72 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 62,804 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares of the company's stock, valued at $1,583,462,445.39. This represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares of the company's stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is owned by company insiders.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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