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

Toronto Dominion Bank boosted its stake in AppLovin Co. (NASDAQ:APP) by 5.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,135 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Toronto Dominion Bank’s holdings in AppLovin were worth $1,509,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC acquired a new stake in AppLovin during the 2nd quarter worth $290,655,000. Lone Pine Capital LLC boosted its stake in AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after purchasing an additional 382,767 shares during the last quarter. Sandia Investment Management LP acquired a new stake in AppLovin during the 2nd quarter worth $624,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in AppLovin by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,419 shares of the company’s stock worth $2,864,000 after purchasing an additional 12,929 shares during the last quarter. Finally, Davidson Kempner Capital Management LP boosted its stake in AppLovin by 150.0% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 125,000 shares of the company’s stock worth $10,398,000 after purchasing an additional 75,000 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 2.2 %

Shares of APP opened at $130.55 on Tuesday. The firm has a market cap of $42.95 billion, a P/E ratio of 77.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $133.05. The company’s 50-day moving average price is $93.36 and its 200 day moving average price is $83.34. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. On average, sell-side analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Vasily Shikin sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00. Following the sale, the chief technology officer now directly owns 4,536,447 shares in the company, valued at $390,315,899.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. The disclosure for this sale can be found here. Insiders have sold 728,933 shares of company stock worth $61,807,117 over the last three months. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Wedbush lowered their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Benchmark boosted their price target on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. Finally, Bank of America boosted their price target on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $106.44.

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.