TD Private Client Wealth LLC Acquires 747 Shares of AppLovin Co. (NASDAQ:APP)

TD Private Client Wealth LLC increased its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 244.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,052 shares of the company's stock after buying an additional 747 shares during the quarter. TD Private Client Wealth LLC's holdings in AppLovin were worth $341,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Independent Solutions Wealth Management LLC bought a new position in AppLovin in the 4th quarter valued at about $3,936,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of AppLovin during the 4th quarter worth about $41,000. Berkshire Capital Holdings Inc. lifted its stake in shares of AppLovin by 355,800.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 35,590 shares of the company's stock worth $11,525,000 after acquiring an additional 35,580 shares during the period. Maestria Partners LLC bought a new position in shares of AppLovin in the fourth quarter valued at approximately $14,230,000. Finally, iA Global Asset Management Inc. increased its stake in shares of AppLovin by 351.5% during the fourth quarter. iA Global Asset Management Inc. now owns 36,437 shares of the company's stock valued at $11,799,000 after acquiring an additional 28,366 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APP. Macquarie upped their target price on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Citigroup upped their price objective on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. The Goldman Sachs Group upped their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Finally, Piper Sandler raised their price objective on shares of AppLovin from $400.00 to $575.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $438.28.

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AppLovin Trading Down 20.1 %

NASDAQ APP traded down $65.92 on Thursday, hitting $261.70. 20,114,866 shares of the stock were exchanged, compared to its average volume of 5,356,220. The company's 50-day moving average price is $353.26 and its two-hundred day moving average price is $280.42. The company has a market capitalization of $88.97 billion, a price-to-earnings ratio of 57.64, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

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

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.