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

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

Several other institutional investors and hedge funds also recently bought and sold shares of APP. WCM Investment Management LLC raised its holdings in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Lone Pine Capital LLC raised its holdings in shares of AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company's stock worth $474,557,000 after acquiring an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. raised its holdings in shares of AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company's stock worth $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of AppLovin during the second quarter worth $290,655,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company's stock worth $124,522,000 after acquiring an additional 1,357,400 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Trading Up 4.7 %

APP traded up $15.07 during trading on Friday, reaching $333.31. 6,876,405 shares of the company's stock were exchanged, compared to its average volume of 7,202,183. The company's fifty day moving average price is $181.30 and its 200-day moving average price is $117.71. 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 fifty-two week low of $35.79 and a fifty-two week high of $342.51. The firm has a market capitalization of $111.86 billion, a PE ratio of 101.00, a P/E/G ratio of 3.92 and a beta of 1.86.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The firm's quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities analysts forecast that AppLovin Co. will post 4.05 EPS for the current year.

Insider Activity at AppLovin

In related news, CFO Matthew Stumpf sold 21,101 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the transaction, the chief financial officer now directly owns 213,336 shares of the company's stock, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 854,065 shares of company stock worth $233,072,408 in the last quarter. Corporate insiders own 14.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on APP. Wedbush reissued an "outperform" rating and set a $270.00 target price (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. BTIG Research increased their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus increased their target price on shares of AppLovin from $185.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Bank of America increased their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of AppLovin from $160.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $222.96.

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.