TD Waterhouse Canada Inc. Increases Stock Holdings in AppLovin Corporation $APP

TD Waterhouse Canada Inc. lifted its position in shares of AppLovin Corporation (NASDAQ:APP) by 8.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 38,903 shares of the company’s stock after acquiring an additional 3,086 shares during the period. TD Waterhouse Canada Inc.’s holdings in AppLovin were worth $21,978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in APP. Cassaday & Co Wealth Management LLC acquired a new stake in AppLovin in the 1st quarter valued at about $25,000. Washington Trust Advisors Inc. raised its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in AppLovin during the fourth quarter worth about $27,000. Pioneer Family Office LLC purchased a new stake in shares of AppLovin in the second quarter valued at about $31,000. Finally, First Pacific Financial purchased a new stake in shares of AppLovin in the first quarter valued at about $33,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Maynard G. Webb, Jr. sold 3,076 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the transaction, the director directly owned 120,444 shares in the company, valued at approximately $62,786,252.76. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 271,152 shares of company stock valued at $135,295,830 in the last quarter. 12.81% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of APP opened at $320.56 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The company has a market capitalization of $107.28 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 0.66 and a beta of 2.49. The company’s 50 day simple moving average is $394.59 and its 200 day simple moving average is $440.28. AppLovin Corporation has a 1 year low of $297.50 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.76. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. AppLovin’s revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.39 earnings per share. On average, sell-side analysts predict that AppLovin Corporation will post 15.53 EPS for the current year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent research reports. KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday, June 10th. Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Evercore reissued an “outperform” rating and set a $510.00 price target on shares of AppLovin in a research report on Tuesday. Scotiabank reissued a “sector outperform” rating and issued a $515.00 price target on shares of AppLovin in a report on Thursday, August 6th. Finally, Raymond James Financial initiated coverage on AppLovin in a research report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $538.61.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.