TD Waterhouse Canada Inc. Buys 3,086 Shares of AppLovin Corporation $APP

TD Waterhouse Canada Inc. lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 8.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,903 shares of the company’s stock after acquiring an additional 3,086 shares during the period. TD Waterhouse Canada Inc.’s holdings in AppLovin were worth $21,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in AppLovin by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after purchasing an additional 166,117 shares during the period. State Street Corp raised its holdings in shares of AppLovin by 0.4% during the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after purchasing an additional 52,377 shares during the period. Geode Capital Management LLC raised its holdings in shares of AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after purchasing an additional 448,005 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of AppLovin by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock worth $4,103,386,000 after purchasing an additional 212,349 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of AppLovin by 10.7% during the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after purchasing an additional 538,806 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director directly owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 393,000 shares of company stock valued at $197,297,363 in the last quarter. 12.81% of the stock is currently owned by company insiders.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group decreased their target price on AppLovin from $798.00 to $790.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Scotiabank reiterated a “sector outperform” rating and issued a $515.00 price target on shares of AppLovin in a report on Thursday, August 6th. Citigroup reduced their price objective on AppLovin from $710.00 to $650.00 and set a “buy” rating for the company in a research note on Friday, August 7th. BTIG Research decreased their price objective on AppLovin from $574.00 to $408.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Bank of America reaffirmed a “neutral” rating and set a $400.00 target price (down from $430.00) on shares of AppLovin in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $565.91.

AppLovin Stock Performance

Shares of APP stock opened at $315.44 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30. The company has a market cap of $105.56 billion, a P/E ratio of 24.25, a P/E/G ratio of 0.63 and a beta of 2.54. The firm has a 50-day moving average of $447.84 and a 200-day moving average of $456.06. AppLovin Corporation has a one year low of $303.17 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.76. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.39 earnings per share. Equities research analysts forecast that AppLovin Corporation will post 15.57 EPS for the current fiscal year.

AppLovin Profile

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.