TD Private Client Wealth LLC Increases Stake in AppLovin Corporation $APP

TD Private Client Wealth LLC lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 80.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,425 shares of the company’s stock after buying an additional 635 shares during the quarter. TD Private Client Wealth LLC’s holdings in AppLovin were worth $499,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Atala Financial Inc purchased a new stake in AppLovin during the first quarter valued at about $26,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin in the 1st quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in shares of AppLovin in the 1st quarter valued at about $29,000. Bartlett & CO. Wealth Management LLC purchased a new stake in AppLovin during the 1st quarter valued at about $29,000. Finally, SouthState Corp bought a new position in AppLovin during the 1st quarter worth approximately $29,000. 41.85% of the stock is owned by institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 26,200 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 350 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the sale, the director owned 3,150 shares in the company, valued at approximately $1,537,105.50. This trade represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock valued at $514,863,333 in the last three months. Company insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen downgraded AppLovin from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. BTIG Research upped their price target on shares of AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a report on Monday, September 15th. Wells Fargo & Company raised their price target on shares of AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Oppenheimer upped their price objective on shares of AppLovin from $500.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. Finally, UBS Group raised their target price on AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $540.76.

AppLovin Price Performance

Shares of NASDAQ APP opened at $669.86 on Friday. AppLovin Corporation has a 1 year low of $126.53 and a 1 year high of $671.18. The stock has a market capitalization of $226.58 billion, a P/E ratio of 95.15, a P/E/G ratio of 3.71 and a beta of 2.44. The company’s 50-day moving average is $480.60 and its 200 day moving average is $377.20. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

AppLovin (NASDAQ:APP) last posted 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. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $0.89 EPS. The business’s revenue was up 77.1% on a year-over-year basis. On average, sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

About AppLovin

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.