PKO Investment Management Joint Stock Co Has $4.18 Million Stock Position in AppLovin Corporation $APP

PKO Investment Management Joint Stock Co lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 23.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,500 shares of the company’s stock after acquiring an additional 2,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in AppLovin were worth $4,179,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp increased its holdings in AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of AppLovin by 3,118.6% in the fourth quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock valued at $2,826,049,000 after purchasing an additional 4,063,763 shares in the last quarter. Norges Bank purchased a new position in shares of AppLovin during the fourth quarter valued at approximately $2,040,321,000. Capital Research Global Investors purchased a new position in shares of AppLovin during the third quarter valued at approximately $743,899,000. Finally, Northern Trust Corp grew its holdings in AppLovin by 46.8% during the third quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after buying an additional 756,660 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 $469.39 on Tuesday. The stock has a 50 day moving average of $494.04 and a 200 day moving average of $515.77. The company has a market capitalization of $157.69 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 0.76 and a beta of 2.45. AppLovin Corporation has a 12 month low of $320.00 and a 12 month 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.

AppLovin (NASDAQ:APP) last posted 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. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The business’s revenue was up 58.9% on a year-over-year basis. As a group, sell-side analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. BTIG Research reiterated a “buy” rating and issued a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Citigroup reiterated a “buy” rating on shares of AppLovin in a report on Monday. Finally, KeyCorp set a $775.00 price target on shares of AppLovin in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction dated 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 in the company, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 389,924 shares of company stock worth $195,693,875 in the last ninety days. Corporate insiders own 13.66% of the company’s stock.

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.