TD Private Client Wealth LLC Grows Stock Position in AppLovin Co. (NASDAQ:APP)

TD Private Client Wealth LLC boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 244.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,052 shares of the company’s stock after purchasing an additional 747 shares during the quarter. TD Private Client Wealth LLC’s holdings in AppLovin were worth $341,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of APP. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin during the 4th quarter worth $25,000. Riverview Trust Co raised its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Hemington Wealth Management lifted its holdings in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Finally, Smithfield Trust Co purchased a new position in shares of AppLovin in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 over the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $339.72 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $115.49 billion, a PE ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. The stock has a fifty day moving average price of $354.31 and a 200 day moving average price of $278.37. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APP. Macquarie boosted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 target price (up from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.