Toronto Dominion Bank Has $9.94 Million Stake in AppLovin Co. (NASDAQ:APP)

Toronto Dominion Bank raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 22.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,705 shares of the company’s stock after buying an additional 5,531 shares during the period. Toronto Dominion Bank’s holdings in AppLovin were worth $9,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Steadfast Capital Management LP acquired a new stake in shares of AppLovin in the fourth quarter worth $136,799,000. Snowden Capital Advisors LLC grew its stake in AppLovin by 18.2% in the 4th quarter. Snowden Capital Advisors LLC now owns 3,274 shares of the company’s stock valued at $1,060,000 after buying an additional 503 shares during the last quarter. Shell Asset Management Co. raised its holdings in AppLovin by 55.4% in the 4th quarter. Shell Asset Management Co. now owns 6,912 shares of the company’s stock worth $2,238,000 after acquiring an additional 2,463 shares during the period. Royal Bank of Canada lifted its position in AppLovin by 130.4% during the 4th quarter. Royal Bank of Canada now owns 890,396 shares of the company’s stock worth $288,337,000 after acquiring an additional 503,956 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in AppLovin during the fourth quarter valued at about $12,205,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 2.0%

Shares of APP opened at $363.05 on Wednesday. The stock has a market cap of $122.85 billion, a price-to-earnings ratio of 79.97, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a 50-day moving average price of $288.92 and a two-hundred day moving average price of $321.26.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Equities analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,119,470 shares of company stock worth $409,752,180 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

APP has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Morgan Stanley lifted their price target on AppLovin from $350.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. The Goldman Sachs Group upped their price target on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. FBN Securities started coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an “outperform” rating and a $385.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $433.85.

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.