Citizens Financial Group Inc. RI Has $7.44 Million Stake in AppLovin Corporation $APP

Citizens Financial Group Inc. RI increased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,048 shares of the company’s stock after buying an additional 1,107 shares during the period. Citizens Financial Group Inc. RI’s holdings in AppLovin were worth $7,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. New York State Teachers Retirement System raised its stake in shares of AppLovin by 1.8% during the fourth quarter. New York State Teachers Retirement System now owns 216,329 shares of the company’s stock worth $145,767,000 after buying an additional 3,790 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin during the fourth quarter worth approximately $32,000. Precision Wealth Strategies LLC raised its stake in shares of AppLovin by 6.0% during the fourth quarter. Precision Wealth Strategies LLC now owns 1,859 shares of the company’s stock worth $1,253,000 after buying an additional 106 shares during the last quarter. Bogart Wealth LLC raised its stake in shares of AppLovin by 220.8% during the fourth quarter. Bogart Wealth LLC now owns 154 shares of the company’s stock worth $104,000 after buying an additional 106 shares during the last quarter. Finally, PVG Asset Management Corp bought a new stake in shares of AppLovin during the fourth quarter worth approximately $545,000. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on APP. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price target on shares of AppLovin in a research note on Wednesday, March 11th. The Goldman Sachs Group dropped their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Argus assumed coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. Finally, Jefferies Financial Group lowered their target price on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $673.25.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the transaction, the chief executive officer owned 2,430,414 shares in the company, valued at $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 365,244 shares of company stock valued at $169,584,607. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Up 3.1%

Shares of NASDAQ:APP opened at $460.00 on Friday. AppLovin Corporation has a 52 week low of $286.85 and a 52 week high of $745.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The company has a market capitalization of $155.15 billion, a PE ratio of 47.18, a PEG ratio of 0.78 and a beta of 2.37. The company has a 50 day moving average price of $437.77 and a two-hundred day moving average price of $536.27.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was up 66.0% on a year-over-year basis. Analysts forecast that AppLovin Corporation will post 15.72 earnings per share for the current year.

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.