Militia Capital Management LLC Makes New Investment in AppLovin Corporation $APP

Militia Capital Management LLC purchased a new stake in shares of AppLovin Corporation (NASDAQ:APP) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,720 shares of the company’s stock, valued at approximately $2,277,000.

A number of other institutional investors also recently modified their holdings of APP. Generate Investment Management Ltd bought a new stake in AppLovin during the 4th quarter valued at approximately $2,347,000. Calamos Advisors LLC grew its holdings in AppLovin by 73.3% in the 4th quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after buying an additional 20,609 shares during the last quarter. Capricorn Fund Managers Ltd bought a new position in AppLovin in the 4th quarter worth approximately $4,043,000. SG Americas Securities LLC increased its position in AppLovin by 114.7% in the 4th quarter. SG Americas Securities LLC now owns 77,158 shares of the company’s stock worth $51,991,000 after buying an additional 41,215 shares during the period. Finally, Dara Capital US Inc. acquired a new position in shares of AppLovin during the fourth quarter worth approximately $1,747,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on APP shares. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, May 28th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Wedbush reiterated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $668.45.

Insider Transactions at AppLovin

In related news, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 393,000 shares of company stock valued at $197,297,363 over the last 90 days. Corporate insiders own 12.81% of the company’s stock.

AppLovin Trading Down 3.8%

AppLovin stock opened at $412.48 on Thursday. The business has a 50 day moving average price of $502.88 and a two-hundred day moving average price of $482.25. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $138.57 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 0.70 and a beta of 2.49. AppLovin Corporation has a 12 month low of $349.21 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 EPS. As a group, equities analysts forecast that AppLovin Corporation will post 15.93 EPS for the current year.

About AppLovin

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.