PKO Investment Management Joint Stock Co Makes New Investment in AppLovin Corporation (NASDAQ:APP)

PKO Investment Management Joint Stock Co acquired a new stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 17,000 shares of the company's stock, valued at approximately $4,504,000.

Other large investors also recently bought and sold shares of the company. Rakuten Securities Inc. lifted its holdings in shares of AppLovin by 24.1% in the 1st quarter. Rakuten Securities Inc. now owns 12,191 shares of the company's stock worth $3,230,000 after buying an additional 2,368 shares during the period. Insigneo Advisory Services LLC purchased a new stake in shares of AppLovin in the 1st quarter worth $312,000. WD Rutherford LLC purchased a new stake in shares of AppLovin in the 1st quarter worth $634,000. Precision Wealth Strategies LLC lifted its holdings in shares of AppLovin by 15.0% in the 1st quarter. Precision Wealth Strategies LLC now owns 5,487 shares of the company's stock worth $1,454,000 after buying an additional 715 shares during the period. Finally, Sowell Financial Services LLC purchased a new stake in shares of AppLovin during the 1st quarter worth $589,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on APP shares. Piper Sandler upped their price objective on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. UBS Group upped their price objective on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $438.10.

Insiders Place Their Bets

In related news, Director Barbara Messing sold 1,500 shares of AppLovin stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the transaction, the director now directly owns 9,510 shares in the company, valued at approximately $3,637,194.60. This trade represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig Scott Billings sold 12,000 shares of AppLovin stock in a transaction on Monday, May 12th. The shares were sold at an average price of $353.12, for a total value of $4,237,440.00. Following the completion of the transaction, the director now owns 2,987 shares of the company's stock, valued at approximately $1,054,769.44. This trade represents a 80.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock valued at $455,062,980 over the last quarter. 13.66% of the stock is owned by insiders.

AppLovin Price Performance

Shares of NASDAQ APP traded down $16.08 during midday trading on Wednesday, hitting $344.37. The stock had a trading volume of 5,806,553 shares, compared to its average volume of 6,117,065. The company has a market capitalization of $116.53 billion, a PE ratio of 62.16, a P/E/G ratio of 2.09 and a beta of 2.53. The stock has a 50 day simple moving average of $330.10 and a 200-day simple moving average of $334.71. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The business's revenue for the quarter was up 40.3% on a year-over-year basis. On average, sell-side analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.