AppLovin Corporation $APP Shares Sold by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co lowered its stake in AppLovin Corporation (NASDAQ:APP) by 58.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,000 shares of the company’s stock after selling 10,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in AppLovin were worth $2,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hilltop National Bank acquired a new stake in shares of AppLovin during the second quarter worth $26,000. Hoey Investments Inc. purchased a new position in AppLovin in the second quarter valued at $35,000. Trust Co. of Vermont purchased a new position in AppLovin in the second quarter valued at $35,000. Alpine Bank Wealth Management purchased a new position in AppLovin in the first quarter valued at $27,000. Finally, ORG Partners LLC increased its stake in shares of AppLovin by 146.5% during the second quarter. ORG Partners LLC now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 26,200 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the transaction, the chief executive officer owned 2,590,054 shares of the company’s stock, valued at approximately $1,140,219,472.42. The trade was a 1.00% 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, insider Victoria Valenzuela sold 35,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares of the company’s stock, valued at $135,579,499.65. This trade represents a 11.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock worth $514,863,333 in the last quarter. 13.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on APP shares. The Goldman Sachs Group restated a “neutral” rating and set a $630.00 price target on shares of AppLovin in a research report on Tuesday, October 14th. Morgan Stanley upped their price objective on shares of AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Jefferies Financial Group upped their price objective on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Bank of America upped their price objective on shares of AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Piper Sandler upped their price objective on shares of AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $605.13.

AppLovin Trading Up 5.1%

Shares of NASDAQ:APP opened at $620.00 on Friday. The company’s 50 day moving average is $569.09 and its two-hundred day moving average is $422.86. AppLovin Corporation has a 52 week low of $158.33 and a 52 week high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market cap of $209.72 billion, a PE ratio of 88.07, a P/E/G ratio of 3.20 and a beta of 2.53.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 EPS. Equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin Profile

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.