30,015 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new stake in AppLovin Co. (NASDAQ:APP) in the first quarter, HoldingsChannel.com reports. The fund bought 30,015 shares of the company’s stock, valued at approximately $2,078,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APP. Highland Capital Management LLC raised its holdings in shares of AppLovin by 0.5% during the first quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock valued at $1,946,000 after buying an additional 153 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of AppLovin by 13.6% during the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $89,000 after buying an additional 154 shares during the last quarter. DeDora Capital Inc. raised its holdings in shares of AppLovin by 1.8% during the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock valued at $664,000 after buying an additional 166 shares during the last quarter. Covestor Ltd raised its holdings in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in AppLovin by 26.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth $53,000 after purchasing an additional 281 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the sale, the insider now directly owns 448,490 shares in the company, valued at $36,493,631.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the sale, the director now owns 7,641,531 shares in the company, valued at $693,468,938.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the transaction, the insider now directly owns 448,490 shares of the company’s stock, valued at approximately $36,493,631.30. The disclosure for this sale can be found here. Insiders sold 17,857,726 shares of company stock worth $1,489,251,374 over the last ninety days. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Down 8.5 %

Shares of NASDAQ APP traded down $6.37 during mid-day trading on Friday, reaching $68.72. The company had a trading volume of 4,301,373 shares, compared to its average volume of 4,082,600. AppLovin Co. has a twelve month low of $28.99 and a twelve month high of $91.91. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market capitalization of $22.61 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 1.30 and a beta of 1.86. The stock’s 50 day moving average is $81.38 and its 200-day moving average is $69.91.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, equities analysts anticipate that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Citigroup boosted their target price on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Morgan Stanley boosted their target price on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Stifel Nicolaus boosted their target price on AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $97.00 price target on shares of AppLovin in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.72.

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.