Militia Capital Management LLC purchased a new position in AppLovin Corporation (NASDAQ:APP – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,000 shares of the company’s stock, valued at approximately $3,184,000.
Other institutional investors also recently modified their holdings of the company. Washington Trust Advisors Inc. boosted its stake in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter worth $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $32,000. Osbon Capital Management LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $36,000. Finally, Dogwood Wealth Management LLC lifted its holdings in shares of AppLovin by 84.4% during the fourth quarter. Dogwood Wealth Management LLC now owns 59 shares of the company’s stock valued at $40,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on APP. KeyCorp set a $775.00 price target on AppLovin in a research report on Wednesday, June 10th. Wedbush restated an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. BTIG Research reaffirmed a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $668.45.
Insider Buying and Selling
In other news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 393,000 shares of company stock worth $197,297,363 over the last ninety days. 12.81% of the stock is currently owned by corporate insiders.
AppLovin Stock Performance
Shares of APP stock opened at $395.90 on Monday. AppLovin Corporation has a 1-year low of $359.00 and a 1-year high of $745.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $133.00 billion, a price-to-earnings ratio of 34.01, a P/E/G ratio of 0.65 and a beta of 2.54. The stock’s fifty day simple moving average is $491.19 and its 200-day simple moving average is $470.96.
AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm 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 quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. On average, sell-side analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current fiscal 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.
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