Citizens Financial Group Inc. RI Takes $251,000 Position in AppLovin Co. (NASDAQ:APP)

Citizens Financial Group Inc. RI acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,921 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors also recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in AppLovin in the third quarter worth approximately $27,000. DT Investment Partners LLC acquired a new stake in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin in the third quarter valued at $29,000. Finally, HM Payson & Co. lifted its stake in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APP. Citigroup boosted their price objective on shares of AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Wells Fargo & Company lifted their target price on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer upped their price target on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price objective on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the sale, the chief technology officer now owns 4,530,455 shares in the company, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 854,065 shares of company stock valued at $233,072,408. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Up 4.7 %

NASDAQ APP opened at $333.31 on Friday. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $342.51. The firm has a 50 day moving average of $181.30 and a two-hundred day moving average of $117.41. 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 stock has a market capitalization of $111.86 billion, a PE ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, research analysts expect that AppLovin Co. will post 4.05 EPS 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.