Toronto Dominion Bank Buys 5,531 Shares of AppLovin Co. (NASDAQ:APP)

Toronto Dominion Bank lifted its stake in AppLovin Co. (NASDAQ:APP) by 22.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 30,705 shares of the company’s stock after purchasing an additional 5,531 shares during the quarter. Toronto Dominion Bank’s holdings in AppLovin were worth $9,943,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. FMR LLC increased its stake in shares of AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after buying an additional 5,957,885 shares during the period. SVB Wealth LLC bought a new position in AppLovin in the fourth quarter valued at about $1,781,922,000. Geode Capital Management LLC increased its position in AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after purchasing an additional 573,310 shares during the period. Baillie Gifford & Co. raised its holdings in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares during the last quarter. Finally, Invesco Ltd. lifted its position in AppLovin by 68.0% during the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock valued at $977,639,000 after purchasing an additional 1,222,074 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $363.05 on Wednesday. The stock has a 50 day simple moving average of $288.92 and a 200 day simple moving average of $321.26. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market capitalization of $122.85 billion, a PE ratio of 79.97, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. Sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on APP shares. Wells Fargo & Company lifted their price target on shares of AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Monday, April 21st. JPMorgan Chase & Co. increased their price target on AppLovin from $270.00 to $355.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Loop Capital restated a “buy” rating and issued a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. Finally, Bank of America upped their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One investment 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 data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $433.85.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director now owns 221,209 shares of the company’s stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is owned by corporate insiders.

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.