Eos Management L.P. Trims Holdings in AppLovin Co. (NASDAQ:APP)

Eos Management L.P. decreased its position in shares of AppLovin Co. (NASDAQ:APP) by 19.9% during the fourth quarter, HoldingsChannel reports. The fund owned 137,989 shares of the company’s stock after selling 34,333 shares during the quarter. AppLovin accounts for approximately 2.4% of Eos Management L.P.’s investment portfolio, making the stock its 9th largest holding. Eos Management L.P.’s holdings in AppLovin were worth $5,499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in APP. BluePath Capital Management LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $33,000. Castleview Partners LLC bought a new stake in AppLovin during the 3rd quarter valued at $38,000. Cullen Frost Bankers Inc. bought a new position in shares of AppLovin during the 3rd quarter worth $44,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of AppLovin during the third quarter valued at $45,000. Finally, GAMMA Investing LLC bought a new stake in shares of AppLovin in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on APP shares. UBS Group upped their price target on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Oppenheimer increased their target price on AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. The Goldman Sachs Group upped their price objective on AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Morgan Stanley lifted their target price on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.31.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the transaction, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The disclosure for this sale can be found here. Insiders have sold a total of 61,215 shares of company stock worth $4,416,815 over the last quarter. Insiders own 12.43% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $4.61 during midday trading on Friday, reaching $73.82. The company had a trading volume of 5,379,530 shares, compared to its average volume of 4,092,822. The stock has a market cap of $25.25 billion, a P/E ratio of 73.82, a P/E/G ratio of 1.40 and a beta of 1.90. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin Co. has a 1 year low of $15.70 and a 1 year high of $79.55. The business’s 50-day simple moving average is $67.13 and its 200 day simple moving average is $49.97.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The company had revenue of $953.26 million during the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm’s revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. On average, analysts forecast that AppLovin Co. will post 2.49 earnings per share for the current fiscal year.

AppLovin Company 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.