AppLovin Corporation $APP Position Raised by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co raised its position in shares of AppLovin Corporation (NASDAQ:APP) by 21.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,500 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in AppLovin were worth $5,727,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mediolanum International Funds Ltd boosted its stake 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 buying an additional 32,510 shares during the period. Thames Capital Management LLC boosted its stake in shares of AppLovin by 114.8% during the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock worth $12,001,000 after acquiring an additional 8,925 shares in the last quarter. CIBC Asset Management Inc grew its holdings in AppLovin by 14.8% during the third quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after purchasing an additional 15,074 shares during the last quarter. Allworth Financial LP grew its holdings in AppLovin by 131.7% during 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 position in shares of AppLovin in the third quarter valued at approximately $4,958,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 3.1%

AppLovin stock opened at $460.00 on Friday. The business has a 50 day moving average price of $437.77 and a two-hundred day moving average price of $535.89. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 12 month low of $286.85 and a 12 month high of $745.61. The stock has a market cap of $155.15 billion, a price-to-earnings ratio of 47.18, a price-to-earnings-growth ratio of 0.80 and a beta of 2.37.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.AppLovin’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 EPS. As a group, equities analysts forecast that AppLovin Corporation will post 15.72 EPS for the current year.

Analyst Ratings Changes

APP has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $650.00 price objective (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Evercore reiterated a “buy” rating on shares of AppLovin in a report on Friday, January 30th. Citigroup decreased their price target on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Argus initiated coverage on AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. Finally, The Goldman Sachs Group dropped their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock 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 issued a Hold rating to the company. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $673.25.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 40,704 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the transaction, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at approximately $1,117,625,877.90. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the sale, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 365,244 shares of company stock worth $169,584,607 over the last 90 days. 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.