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

PKO Investment Management Joint Stock Co lowered its position in shares of AppLovin Corporation (NASDAQ:APP) by 58.8% in the 2nd quarter, Holdings Channel reports. 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legal Advantage Investments Inc. purchased a new stake in AppLovin during the second quarter valued at about $1,523,000. Park Avenue Securities LLC increased its holdings in AppLovin by 30.6% in the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after buying an additional 4,890 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in AppLovin by 15.6% during the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after purchasing an additional 6,104 shares during the last quarter. Aberdeen Group plc grew its holdings in AppLovin by 6.5% during the second quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after purchasing an additional 7,001 shares during the last quarter. Finally, Lee Johnson Capital Management LLC boosted its position in shares of AppLovin by 13.6% in the second quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company’s stock valued at $4,358,000 after acquiring an additional 1,491 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Dawson Alyssa Harvey sold 350 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $487.97, for a total value of $170,789.50. Following the completion of the sale, the director owned 3,150 shares of the company’s stock, valued at approximately $1,537,105.50. This represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares in the company, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is owned by corporate insiders.

AppLovin Price Performance

Shares of APP stock opened at $620.00 on Friday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12 month low of $158.33 and a 12 month high of $745.61. The firm has a market cap of $209.72 billion, a price-to-earnings ratio of 88.07, a PEG ratio of 3.20 and a beta of 2.53. The stock has a 50-day moving average price of $569.09 and a 200 day moving average price of $422.86.

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

Analyst Upgrades and Downgrades

APP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $705.00 target price on AppLovin and gave the stock a “buy” rating in a research report on Wednesday. UBS Group raised their target price on AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Weiss Ratings cut AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. BTIG Research lifted their price objective on AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Wall Street Zen cut AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $605.13.

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.