TD Waterhouse Canada Inc. Has $9.40 Million Position in AppLovin Co. (NASDAQ:APP)

TD Waterhouse Canada Inc. raised its stake in AppLovin Co. (NASDAQ:APP) by 161.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,013 shares of the company’s stock after acquiring an additional 17,922 shares during the period. TD Waterhouse Canada Inc.’s holdings in AppLovin were worth $9,397,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC increased its holdings in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after buying an additional 5,957,885 shares during the period. SVB Wealth LLC acquired a new position in AppLovin during the fourth quarter valued at approximately $1,781,922,000. Geode Capital Management LLC lifted its stake in AppLovin by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after purchasing an additional 573,310 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. Finally, Invesco Ltd. grew its position in AppLovin by 68.0% in the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock valued at $977,639,000 after acquiring an additional 1,222,074 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated 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 owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Down 4.2 %

AppLovin stock opened at $228.13 on Tuesday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $77.55 billion, a PE ratio of 50.25, a PEG ratio of 3.02 and a beta of 2.39. The firm’s fifty day moving average is $310.23 and its 200 day moving average is $298.90. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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%. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Piper Sandler dropped their price target on AppLovin from $575.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday. Morgan Stanley upgraded AppLovin from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $470.00 to $350.00 in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group lowered their price objective on AppLovin from $500.00 to $335.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $424.84.

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.