AppLovin Corporation $APP Stake Lowered by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 80.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,163 shares of the company’s stock after selling 8,885 shares during the period. Citizens Financial Group Inc. RI’s holdings in AppLovin were worth $861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in APP. Washington Trust Advisors Inc. increased its position in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Board of the Pension Protection Fund bought a new stake in AppLovin in the fourth quarter worth about $27,000. Mcguire Capital Advisors Inc. acquired a new stake in AppLovin during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at $32,000. Finally, Osbon Capital Management LLC purchased a new stake in shares of AppLovin during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the transaction, the chief technology officer directly owned 3,189,739 shares in the company, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. This represents a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 393,000 shares of company stock worth $197,297,363. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $448.98 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $150.83 billion, a P/E ratio of 38.57, a price-to-earnings-growth ratio of 0.72 and a beta of 2.49. The firm has a 50 day moving average of $508.50 and a 200-day moving average of $493.54. AppLovin Corporation has a 1 year low of $343.00 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The business’s revenue for the quarter was up 58.9% on a year-over-year basis. As a group, sell-side analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. KeyCorp set a $775.00 price target on AppLovin in a report on Wednesday, June 10th. Finally, Raymond James Financial assumed coverage on AppLovin in a research report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.45.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Wells Fargo raised its price target on AppLovin to $575 and kept an Overweight rating, signaling continued analyst confidence in the stock’s longer-term upside. Wells Fargo Raises PT on AppLovin (APP) Stock
• Positive Sentiment: Some market commentary says the selloff in APP may be overdone, with valuation still supported by AppLovin’s AI-driven expansion beyond mobile gaming into e-commerce advertising. AppLovin (APP) Stock Looks Like A Bargain On Its 15x Run
• Neutral Sentiment: AppLovin continues to attract attention for its effort to use AI to expand into e-commerce advertising beyond mobile gaming, but this remains a longer-term growth story rather than an immediate catalyst. How AppLovin (APP) Is Using AI to Expand Beyond Mobile Gaming Into E-Commerce Advertising
• Negative Sentiment: Analyst and media reports pointed to softer June e-commerce growth, renewing concern that AppLovin’s new ad initiative may be taking longer to gain traction. AppLovin’s Ecommerce Growth Soft In June, Says BofA Citing Third-Party Data
• Negative Sentiment: AppLovin is also being hit by broader selling in high-beta growth names and market weakness tied to geopolitical risk, which has amplified the stock’s decline. AppLovin Stock Tumbles 12% Amid Broader Selloff
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of AppLovin investors, adding a legal overhang that can weigh on sentiment. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AppLovin Corporation – APP

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.