PKO Investment Management Joint Stock Co Has $5.73 Million Stock Holdings in AppLovin Corporation $APP

PKO Investment Management Joint Stock Co raised its position in AppLovin Corporation (NASDAQ:APP) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,500 shares of the company’s stock after buying an additional 1,500 shares during the period. PKO Investment Management Joint Stock Co’s holdings in AppLovin were worth $5,727,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of APP. Mediolanum International Funds Ltd raised its position in shares of AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after acquiring an additional 32,510 shares during the last quarter. Thames Capital Management LLC grew its stake in shares of AppLovin by 114.8% during the third quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock worth $12,001,000 after purchasing an additional 8,925 shares during the period. CIBC Asset Management Inc grew its stake in shares of AppLovin by 14.8% during the third quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock worth $84,160,000 after purchasing an additional 15,074 shares during the period. Allworth Financial LP increased its holdings in AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the last quarter. Finally, APG Asset Management N.V. bought a new stake in AppLovin in the third quarter valued at about $4,958,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 3.1%

NASDAQ:APP opened at $460.00 on Friday. The stock has a 50-day simple moving average of $437.77 and a 200 day simple moving average of $535.89. AppLovin Corporation has a 52-week low of $286.85 and a 52-week high of $745.61. The company has a market cap of $155.15 billion, a PE ratio of 47.18, a PEG ratio of 0.80 and a beta of 2.37. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The business’s quarterly revenue was up 66.0% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Corporation will post 15.72 EPS for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on AppLovin from $543.00 to $560.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Citigroup lowered their price target on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. UBS Group set a $740.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Royal Bank Of Canada restated an “outperform” rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Finally, Jefferies Financial Group lowered their target price on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $673.25.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of AppLovin stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $459.85, for a total value of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. The trade was a 1.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 5,231 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the sale, the chief technology officer directly owned 30,658 shares in the company, valued at $14,638,275.26. This trade represents a 14.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 over the last 90 days. 13.66% of the stock is owned by corporate insiders.

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.