Maytus Capital Management LLC Acquires Shares of 8,500 AppLovin Co. (NASDAQ:APP)

Maytus Capital Management LLC purchased a new stake in AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 8,500 shares of the company's stock, valued at approximately $2,753,000.

A number of other institutional investors also recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin in the fourth quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the fourth quarter valued at approximately $25,000. Riverview Trust Co boosted its position in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin during the fourth quarter worth $28,000. Finally, Hemington Wealth Management increased its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of APP opened at $347.90 on Tuesday. The firm has a market capitalization of $118.27 billion, a P/E ratio of 76.63, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The stock has a 50 day moving average price of $276.15 and a two-hundred day moving average price of $313.96. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Equities analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This trade represents a 24.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 in the last 90 days. Insiders own 14.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on APP. UBS Group lifted their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group boosted their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday. Benchmark reiterated a "buy" rating and set a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. Finally, Citigroup raised their target price on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $433.85.

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.

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