Citizens Financial Group Inc. RI Makes New $251,000 Investment in AppLovin Co. (NASDAQ:APP)

Citizens Financial Group Inc. RI bought a new stake in AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,921 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in AppLovin during the 3rd quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in AppLovin during the 3rd quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter worth $29,000. Finally, Quest Partners LLC purchased a new stake in shares of AppLovin in the second quarter valued at about $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $333.31 on Friday. The company has a market capitalization of $111.86 billion, a price-to-earnings ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $342.51. The company’s 50 day simple moving average is $181.30 and its 200 day simple moving average is $117.41.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The firm’s revenue was up 38.6% on a year-over-year basis. On average, sell-side analysts predict that AppLovin Co. will post 4.05 EPS for the current year.

Insider Activity at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were 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 approximately $381,192,483.70. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 854,065 shares of company stock worth $233,072,408. 14.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on APP shares. Loop Capital increased their target price on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. BTIG Research upped their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Finally, Benchmark reissued a “sell” rating and set a $66.00 price objective on shares of AppLovin in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $222.96.

About AppLovin

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.