Militia Capital Management LLC Invests $2.28 Million in AppLovin Corporation $APP

Key Points

• Militia Capital Management initiated a new position in AppLovin during the first quarter, buying 5,720 shares valued at about $2.28 million.
• Insider selling has been significant: CEO Arash Adam Foroughi and insider Victoria Valenzuela both sold shares recently, and insiders have sold 393,000 shares worth about $197.3 million over the last quarter.
• Wall Street remains constructive on AppLovin, with analysts assigning a Moderate Buy consensus and an average price target of $668.45, even as the stock traded down 3.8% to $412.48.

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

Several other large investors have also recently bought and sold shares of the business. Revolve Wealth Partners LLC purchased a new position in AppLovin during the 4th quarter valued at about $294,000. Bison Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter worth approximately $239,000. Integrated Wealth Concepts LLC lifted its position in shares of AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock worth $448,000 after purchasing an additional 621 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock worth $5,084,000 after purchasing an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company's stock worth $48,727,000 after purchasing an additional 9,380 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 33,042 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This represents a 1.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the transaction, the insider owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 393,000 shares of company stock worth $197,297,363 over the last quarter. 12.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Argus assumed coverage on shares of AppLovin in a research report on Tuesday, April 14th. They set a "buy" rating and a $520.00 price objective on the stock. KeyCorp set a $775.00 target price on shares of AppLovin in a research report on Wednesday, June 10th. BTIG Research reissued a "buy" rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Benchmark restated a "buy" rating on shares of AppLovin in a report on Wednesday, June 10th. Finally, Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research note on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and a consensus target price of $668.45.

AppLovin Trading Down 3.8%

Shares of NASDAQ APP opened at $412.48 on Thursday. The stock has a market cap of $138.57 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 0.70 and a beta of 2.49. The business has a 50 day simple moving average of $502.88 and a 200 day simple moving average of $482.25. AppLovin Corporation has a 52 week low of $349.21 and a 52 week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm's revenue was up 58.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.67 earnings per share. On average, research analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

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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