Citizens Financial Group Inc. RI Decreases Position in AppLovin Corporation $APP

Key Points

• Citizens Financial Group cut its AppLovin stake by 80.4% in the first quarter, leaving it with 2,163 shares worth about $861,000.
• AppLovin reported strong first-quarter results, with EPS of $3.56 and revenue of $1.84 billion, both ahead of analyst expectations and up 58.9% from a year earlier.
• Despite recent insider selling and some concerns about softer e-commerce growth, analysts remain largely positive, with several firms reiterating buy/overweight ratings and a consensus price target of about $668.45.

Citizens Financial Group Inc. RI cut its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 80.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Board of the Pension Protection Fund purchased a new position in AppLovin in the fourth quarter valued at $27,000. Washington Trust Advisors Inc. increased its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock worth $27,000 after buying an additional 24 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at about $32,000. Finally, First Pacific Financial purchased a new stake in AppLovin during the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Trading Up 1.4%

NASDAQ:APP opened at $448.98 on Wednesday. The business's 50-day moving average is $508.50 and its two-hundred day moving average is $493.54. The firm has a market capitalization of $150.83 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 0.72 and a beta of 2.49. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 12 month low of $343.00 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin's quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 EPS. Research analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares of the company's stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company's stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 in the last three months. 13.66% of the stock is currently owned by company insiders.

Key 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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Benchmark restated a "buy" rating on shares of AppLovin in a research note on Wednesday, June 10th. KeyCorp set a $775.00 target price on AppLovin in a research report on Wednesday, June 10th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Wells Fargo & Company increased their price objective on AppLovin from $571.00 to $575.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research note on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $668.45.

AppLovin 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.

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