TD Waterhouse Canada Inc. Boosts Stock Holdings in AppLovin Co. (NASDAQ:APP)

TD Waterhouse Canada Inc. increased its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 161.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,013 shares of the company's stock after purchasing an additional 17,922 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in AppLovin were worth $9,397,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in APP. Oxinas Partners Wealth Management LLC acquired a new position in AppLovin in the fourth quarter worth about $1,081,000. Virtu Financial LLC bought a new stake in shares of AppLovin in the 3rd quarter valued at approximately $3,211,000. Franchise Capital Ltd acquired a new position in shares of AppLovin in the 4th quarter worth approximately $2,811,000. Barclays PLC lifted its position in shares of AppLovin by 92.5% during the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after buying an additional 153,248 shares during the period. Finally, Tcfg Wealth Management LLC acquired a new stake in AppLovin in the 4th quarter valued at $369,000. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last 90 days. Corporate insiders own 14.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APP. Jefferies Financial Group boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Piper Sandler decreased their price objective on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Loop Capital restated a "buy" rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and a consensus target price of $414.05.

AppLovin Stock Performance

Shares of APP stock traded up $8.95 on Friday, hitting $276.83. 5,766,189 shares of the stock were exchanged, compared to its average volume of 5,882,718. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The firm's 50 day moving average is $291.16 and its two-hundred day moving average is $299.96. The firm has a market capitalization of $94.11 billion, a PE ratio of 60.98, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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