AppLovin Corporation $APP Shares Bought by TD Private Client Wealth LLC

TD Private Client Wealth LLC lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 126.7% during the 4th quarter, HoldingsChannel reports. The fund owned 3,095 shares of the company’s stock after acquiring 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 quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in AppLovin by 0.7% during 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 grew its stake in shares of AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares during the period. Invesco Ltd. increased its holdings in shares of AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after buying an additional 367,083 shares during the last quarter. Jennison Associates LLC raised its position in shares of AppLovin by 55.2% in the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after buying an additional 1,381,970 shares during the period. Finally, Kensico Capital Management Corp raised its position in shares of AppLovin by 3.1% in the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock worth $2,240,767,000 after buying an additional 95,000 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 sale, the chief technology officer owned 3,255,273 shares in the company, valued at $1,583,462,445.39. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $23,302,000.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 365,244 shares of company stock valued at $169,584,607. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Arete Research set a $340.00 price objective on AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Argus assumed coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective on the stock. Oppenheimer decreased their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Finally, The Goldman Sachs Group dropped their target price on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $664.35.

AppLovin Trading Down 3.1%

NASDAQ:APP opened at $476.90 on Wednesday. The business’s 50-day moving average is $446.43 and its two-hundred day moving average is $526.29. The firm has a market capitalization of $160.21 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 0.80 and a beta of 2.37. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The company’s revenue was up 58.9% compared to the same quarter last year. Research analysts predict that AppLovin Corporation will post 15.86 earnings per share 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.