TD Private Client Wealth LLC Increases Stock Position in AppLovin Corporation $APP

TD Private Client Wealth LLC grew its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 126.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,095 shares of the company’s stock after purchasing an additional 1,730 shares during the period. TD Private Client Wealth LLC’s holdings in AppLovin were worth $2,085,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Pacific Heights Asset Management LLC boosted its stake in shares of AppLovin by 14.3% in the fourth quarter. Pacific Heights Asset Management LLC now owns 120,000 shares of the company’s stock valued at $80,858,000 after buying an additional 15,000 shares in the last quarter. North Dakota State Investment Board purchased a new position in AppLovin in the fourth quarter worth $5,490,000. Elyxium Wealth LLC acquired a new stake in AppLovin in the fourth quarter valued at $81,000. Abacus Wealth Partners LLC acquired a new stake in AppLovin in the fourth quarter valued at $283,000. Finally, Soltis Investment Advisors LLC boosted its position in shares of AppLovin by 8.0% during the 4th quarter. Soltis Investment Advisors LLC now owns 1,024 shares of the company’s stock worth $690,000 after purchasing an additional 76 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APP has been the subject of a number of research analyst reports. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Scotiabank boosted their price objective on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. This represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 365,244 shares of company stock valued at $169,584,607. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Down 3.1%

Shares of NASDAQ:APP opened at $476.90 on Wednesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $160.21 billion, a P/E ratio of 40.97, a P/E/G ratio of 0.80 and a beta of 2.37. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The stock’s fifty day simple moving average is $446.43 and its 200-day simple moving average is $526.29.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 58.9% on a year-over-year basis. As a group, equities research analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

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.