Toronto Dominion Bank Raises Stock Position in AppLovin Co. (NASDAQ:APP)

Toronto Dominion Bank increased its position in AppLovin Co. (NASDAQ:APP - Free Report) by 38.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,174 shares of the company's stock after buying an additional 7,039 shares during the period. Toronto Dominion Bank's holdings in AppLovin were worth $3,286,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC lifted its stake in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. FMR LLC raised its holdings in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company's stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the period. Lone Pine Capital LLC lifted its position in AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company's stock worth $474,557,000 after buying an additional 382,767 shares during the last quarter. State Street Corp boosted its stake in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company's stock worth $703,406,000 after buying an additional 428,419 shares during the period. Finally, Geode Capital Management LLC increased its position in AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company's stock valued at $514,418,000 after acquiring an additional 449,241 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of APP stock traded up $19.49 during trading hours on Monday, hitting $343.96. The company's stock had a trading volume of 8,302,336 shares, compared to its average volume of 4,601,208. The stock has a market cap of $115.43 billion, a PE ratio of 103.05, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. AppLovin Co. has a 12-month low of $37.40 and a 12-month high of $417.64. The company has a 50 day moving average of $246.00 and a 200 day moving average of $145.23. 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 issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company's revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 99,000 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now owns 405,676 shares of the company's stock, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 872,896 shares of company stock valued at $279,773,021. 14.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on APP shares. Jefferies Financial Group raised their price target on AppLovin from $270.00 to $400.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Bank of America lifted their target price on AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Benchmark restated a "sell" rating and issued a $66.00 price target on shares of AppLovin in a report on Thursday, November 7th. UBS Group upgraded shares of AppLovin from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Oppenheimer restated an "outperform" rating and issued a $480.00 target price on shares of AppLovin in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $296.40.

AppLovin 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.