Toronto Dominion Bank Has $3.29 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Toronto Dominion Bank boosted its holdings in AppLovin Co. (NASDAQ:APP) by 38.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,174 shares of the company’s stock after buying an additional 7,039 shares during the quarter. Toronto Dominion Bank’s holdings in AppLovin were worth $3,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC acquired a new position in AppLovin during the 2nd quarter worth approximately $290,655,000. 1832 Asset Management L.P. lifted its stake in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after purchasing an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC boosted its position in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of AppLovin by 31.3% during the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after buying an additional 560,560 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In related news, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 872,896 shares of company stock worth $279,773,021 over the last quarter. 14.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APP. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and increased their price target for the company from $103.00 to $150.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. BTIG Research upped their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Citigroup boosted their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.79.

AppLovin Stock Down 0.5 %

Shares of NASDAQ APP opened at $324.47 on Monday. 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 firm has a market cap of $108.89 billion, a PE ratio of 98.32, a P/E/G ratio of 4.17 and a beta of 2.28. The company’s fifty day simple moving average is $246.00 and its 200 day simple moving average is $145.23. AppLovin Co. has a 12-month low of $37.40 and a 12-month high of $417.64.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.30 EPS. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, sell-side analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

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.