AppLovin Corporation $APP Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,903 shares of the company’s stock after purchasing an additional 3,086 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in AppLovin were worth $21,978,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC grew its position in AppLovin by 2.8% during the 2nd quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock worth $438,000 after purchasing an additional 23 shares during the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the last quarter. IMA Advisory Services Inc. boosted its stake in shares of AppLovin by 40.0% during the first quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after buying an additional 24 shares during the period. Rehmann Capital Advisory Group boosted its stake in shares of AppLovin by 2.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,115 shares of the company’s stock worth $828,000 after buying an additional 24 shares during the period. Finally, CENTRAL TRUST Co grew its holdings in shares of AppLovin by 41.3% during the first quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock worth $35,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on APP shares. Wells Fargo & Company dropped their price target on AppLovin from $357.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th. William Blair set a $440.00 target price on AppLovin in a research note on Monday, August 17th. Morgan Stanley dropped their target price on AppLovin from $720.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Citigroup cut their price target on AppLovin from $710.00 to $650.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Phillip Securities raised AppLovin from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $538.61.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $320.56 on Friday. AppLovin Corporation has a 52 week low of $297.50 and a 52 week high of $745.61. The company has a 50-day moving average price of $394.59 and a 200 day moving average price of $440.28. The company has a market cap of $107.28 billion, a P/E ratio of 24.64, a PEG ratio of 0.66 and a beta of 2.49. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11.

AppLovin (NASDAQ:APP) last released its earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.76. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The firm’s quarterly revenue was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.39 EPS. Research analysts predict that AppLovin Corporation will post 15.53 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, Director G Jr sold 3,076 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the sale, the director owned 120,444 shares of the company’s stock, valued at approximately $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Foroughi sold 33,042 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 271,152 shares of company stock worth $135,295,830. 12.81% of the stock is owned by corporate insiders.

AppLovin Company 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.