AppLovin Co. (NASDAQ:APP) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,636 shares of the company’s stock after selling 285 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in AppLovin were worth $530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. S&CO Inc. purchased a new position in shares of AppLovin in the fourth quarter worth about $218,000. Independent Advisor Alliance purchased a new position in AppLovin in the 4th quarter worth approximately $518,000. Daiwa Securities Group Inc. boosted its holdings in shares of AppLovin by 2.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 83,633 shares of the company’s stock worth $27,082,000 after purchasing an additional 2,327 shares during the last quarter. Argentarii LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at approximately $841,000. Finally, Amundi increased its holdings in shares of AppLovin by 67.1% in the fourth quarter. Amundi now owns 603,766 shares of the company’s stock valued at $198,760,000 after purchasing an additional 242,539 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $272.00 on Friday. The company has a market cap of $92.47 billion, a P/E ratio of 59.91, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. 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 firm’s 50 day moving average price is $358.15 and its 200 day moving average price is $265.29.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America upped their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. UBS Group raised their price objective on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Loop Capital raised their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Macquarie lifted their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

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.