TD Private Client Wealth LLC Increases Holdings in AppLovin Corporation $APP

Key Points

• TD Private Client Wealth LLC has increased its stake in AppLovin Corporation by 80.4%, now owning 1,425 shares valued at approximately $499,000.
• Multiple institutional investors have shown interest in AppLovin, with 41.85% of the stock owned by them, indicating strong institutional support.
• Wall Street analysts have set a consensus price target of $540.76 for AppLovin, with the stock being rated as a Moderate Buy on average.

TD Private Client Wealth LLC boosted its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 80.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,425 shares of the company's stock after acquiring an additional 635 shares during the period. TD Private Client Wealth LLC's holdings in AppLovin were worth $499,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of APP. Atala Financial Inc purchased a new stake in AppLovin in the 1st quarter worth about $26,000. Hoey Investments Inc. bought a new position in AppLovin during the second quarter worth about $35,000. ORG Wealth Partners LLC purchased a new position in shares of AppLovin in the first quarter worth about $29,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin in the first quarter valued at approximately $27,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in shares of AppLovin during the 1st quarter valued at approximately $29,000. 41.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on APP. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Scotiabank reaffirmed an "outperform" rating on shares of AppLovin in a report on Thursday, August 28th. BTIG Research raised their price target on AppLovin from $547.00 to $664.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Jefferies Financial Group boosted their price objective on AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $540.76.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the sale, the chief technology officer owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This trade represents a 0.88% 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 26,200 shares of AppLovin stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer directly owned 2,590,054 shares of the company's stock, valued at approximately $1,140,219,472.42. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Corporate insiders own 13.66% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $669.86 on Friday. The stock's 50-day simple moving average is $480.60 and its two-hundred day simple moving average is $377.20. AppLovin Corporation has a twelve month low of $126.53 and a twelve month high of $671.18. The firm has a market capitalization of $226.58 billion, a P/E ratio of 95.15, a P/E/G ratio of 3.71 and a beta of 2.44. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.AppLovin's revenue was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. As a group, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

About AppLovin

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.

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