TD Waterhouse Canada Inc. Sells 3,972 Shares of AppLovin Corporation $APP

TD Waterhouse Canada Inc. lowered its holdings in AppLovin Corporation (NASDAQ:APP) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,277 shares of the company’s stock after selling 3,972 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in AppLovin were worth $11,635,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of AppLovin by 39.4% during the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after buying an additional 7,051,663 shares during the period. State Street Corp boosted its stake in AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in AppLovin during the 3rd quarter worth approximately $1,456,108,000. Jennison Associates LLC grew its holdings in AppLovin by 55.2% during the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after purchasing an additional 1,381,970 shares during the period. Finally, Capital Research Global Investors bought a new stake in AppLovin in the third quarter valued at approximately $743,899,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $490.96 on Tuesday. The firm has a market capitalization of $165.59 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 0.83 and a beta of 2.50. The stock’s 50 day moving average is $430.05 and its 200-day moving average is $544.12. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a twelve month low of $222.02 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company posted $1.73 EPS. The company’s revenue for the quarter was up 66.0% on a year-over-year basis. Sell-side analysts forecast that AppLovin Corporation will post 15.72 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the sale, the chief executive officer directly owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 365,244 shares of company stock worth $169,584,607 in the last quarter. 13.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Piper Sandler reiterated an “overweight” rating and issued a $650.00 price objective (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Morgan Stanley set a $720.00 price target on AppLovin in a research note on Thursday, February 12th. Finally, Argus started coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $661.95.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.