PKO Investment Management Joint Stock Co Purchases 2,000 Shares of AppLovin Corporation $APP

PKO Investment Management Joint Stock Co grew its position in shares of AppLovin Corporation (NASDAQ:APP) by 23.5% during the first quarter, Holdings Channel reports. The institutional investor owned 10,500 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in AppLovin were worth $4,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in APP. Board of the Pension Protection Fund bought a new stake in AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. boosted its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Mcguire Capital Advisors Inc. bought a new position in AppLovin during the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the fourth quarter worth about $32,000. Finally, Graney & King LLC purchased a new position in shares of AppLovin in the third quarter worth about $36,000. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on APP. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research note on Tuesday, June 9th. BTIG Research reaffirmed a “buy” rating and set a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Argus started coverage on AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target on the stock. Oppenheimer lowered their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. One investment 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 stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $669.62.

AppLovin Price Performance

AppLovin stock opened at $469.39 on Tuesday. The stock has a market cap of $157.69 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 0.76 and a beta of 2.45. 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 business has a 50-day simple moving average of $494.04 and a 200 day simple moving average of $515.77. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last released 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 analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company’s revenue was up 58.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 EPS. On average, research analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the transaction, the director directly owned 123,520 shares in the company, valued at $71,893,580.80. The trade was a 2.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 389,924 shares of company stock valued at $195,693,875 over the last three months. Corporate insiders own 13.66% of the company’s stock.

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.