AppLovin Co. (NASDAQ:APP) Stake Boosted by Toronto Dominion Bank

Toronto Dominion Bank increased its position in shares of AppLovin Co. (NASDAQ:APP) by 22.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 large investors have also recently added to or reduced their stakes in APP. GHP Investment Advisors Inc. bought a new stake in AppLovin in the fourth quarter valued at $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin in the fourth quarter valued at $25,000. Riverview Trust Co lifted its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new stake in AppLovin in the fourth quarter valued at $28,000. Finally, Hemington Wealth Management lifted its stake in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This trade represents a 24.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the completion of the transaction, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,315,754 shares of company stock valued at $476,095,970. 14.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Wednesday. Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. FBN Securities began coverage on AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target on the stock. Finally, Morgan Stanley raised their price target on AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $433.85.

AppLovin Price Performance

NASDAQ:APP opened at $390.26 on Thursday. The business’s 50-day moving average price is $296.79 and its 200 day moving average price is $327.05. The firm has a market cap of $132.06 billion, a P/E ratio of 85.96, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin’s revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.