AppLovin Corporation $APP Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its stake in AppLovin Corporation (NASDAQ:APP) by 589.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,941 shares of the company’s stock after buying an additional 8,499 shares during the period. Citizens Financial Group Inc. RI’s holdings in AppLovin were worth $7,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. Optas LLC grew its stake in shares of AppLovin by 2.5% during the 3rd quarter. Optas LLC now owns 877 shares of the company’s stock valued at $630,000 after buying an additional 21 shares during the period. Bartlett & CO. Wealth Management LLC boosted its holdings in AppLovin by 19.6% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock valued at $96,000 after acquiring an additional 22 shares during the last quarter. Avestar Capital LLC grew its position in AppLovin by 2.1% during the second quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock valued at $391,000 after acquiring an additional 23 shares during the period. Proffitt & Goodson Inc. increased its stake in AppLovin by 65.7% during the third quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock worth $42,000 after acquiring an additional 23 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its holdings in shares of AppLovin by 0.3% in the 3rd quarter. Calamos Wealth Management LLC now owns 8,811 shares of the company’s stock worth $6,331,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of AppLovin in a research report on Monday, December 29th. BTIG Research reissued a “buy” rating and issued a $771.00 price objective on shares of AppLovin in a research report on Wednesday, December 17th. Piper Sandler lifted their target price on shares of AppLovin from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. The Goldman Sachs Group upped their price target on shares of AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Finally, Zacks Research raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average price target of $696.60.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 7,609 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 4,069 shares of AppLovin stock in a transaction on Friday, November 21st. The stock was sold at an average price of $497.50, for a total transaction of $2,024,327.50. Following the completion of the sale, the chief executive officer owned 2,998,948 shares of the company’s stock, valued at approximately $1,491,976,630. This trade represents a 0.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 340,336 shares of company stock worth $200,062,623 in the last quarter. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $658.65 on Tuesday. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The firm has a market capitalization of $222.59 billion, a P/E ratio of 79.93, a P/E/G ratio of 2.14 and a beta of 2.50. The company’s fifty day moving average price is $639.53 and its two-hundred day moving average price is $547.55.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned $1.29 earnings per share. The company’s revenue was up 68.2% on a year-over-year basis. On average, research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

About AppLovin

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.