TD Private Client Wealth LLC Boosts Position in AppLovin Co. (NASDAQ:APP)

TD Private Client Wealth LLC grew its position in AppLovin Co. (NASDAQ:APP) by 244.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,052 shares of the company’s stock after buying an additional 747 shares during the quarter. TD Private Client Wealth LLC’s holdings in AppLovin were worth $341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathstone Holdings LLC raised its position in shares of AppLovin by 5.5% during the 3rd quarter. Pathstone Holdings LLC now owns 19,866 shares of the company’s stock worth $2,594,000 after purchasing an additional 1,042 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of AppLovin in the third quarter worth $294,000. Commerce Bank lifted its position in shares of AppLovin by 2.6% in the third quarter. Commerce Bank now owns 8,782 shares of the company’s stock valued at $1,146,000 after acquiring an additional 221 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of AppLovin by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock valued at $89,000 after acquiring an additional 322 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in AppLovin by 25.8% during the 3rd quarter. Raymond James Trust N.A. now owns 3,279 shares of the company’s stock worth $428,000 after purchasing an additional 672 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

APP opened at $339.72 on Tuesday. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a 50 day moving average of $354.31 and a two-hundred day moving average of $278.37. The company has a market cap of $115.49 billion, a P/E ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on APP. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Loop Capital raised their target price on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and issued a $560.00 price target (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Company 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.