Maestria Partners LLC Takes $14.23 Million Position in AppLovin Co. (NASDAQ:APP)

Maestria Partners LLC bought a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,943 shares of the company's stock, valued at approximately $14,230,000. AppLovin accounts for approximately 5.6% of Maestria Partners LLC's portfolio, making the stock its 10th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. iA Global Asset Management Inc. increased its position in shares of AppLovin by 351.5% in the fourth quarter. iA Global Asset Management Inc. now owns 36,437 shares of the company's stock valued at $11,799,000 after buying an additional 28,366 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in AppLovin during the 4th quarter valued at about $19,557,000. Sandy Spring Bank increased its holdings in AppLovin by 58.1% during the 4th quarter. Sandy Spring Bank now owns 272 shares of the company's stock valued at $88,000 after acquiring an additional 100 shares in the last quarter. Royal London Asset Management Ltd. raised its position in AppLovin by 10.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 110,065 shares of the company's stock worth $35,642,000 after acquiring an additional 10,089 shares during the last quarter. Finally, Trivest Advisors Ltd purchased a new stake in shares of AppLovin in the fourth quarter valued at about $35,605,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APP. Stifel Nicolaus lifted their price objective on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the company an "overweight" rating in a research report on Thursday, February 27th. Oppenheimer reiterated an "outperform" rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Macquarie upped their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $438.28.

Remove Ads

AppLovin Trading Up 8.2 %

Shares of AppLovin stock traded up $25.69 during trading hours on Monday, reaching $339.72. The stock had a trading volume of 9,111,745 shares, compared to its average volume of 5,260,623. The firm has a market capitalization of $115.49 billion, a price-to-earnings ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a 50 day simple moving average of $354.31 and a two-hundred day simple moving average of $278.37.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

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.