AppLovin Co. (NASDAQ:APP) is Eos Management L.P.’s 2nd Largest Position

Eos Management L.P. lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 45.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,713 shares of the company’s stock after selling 42,519 shares during the period. AppLovin accounts for 6.9% of Eos Management L.P.’s investment portfolio, making the stock its 2nd largest position. Eos Management L.P.’s holdings in AppLovin were worth $16,422,000 at the end of the most recent reporting period.

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

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,371 shares of company stock worth $139,793,507 in the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Down 12.0 %

APP opened at $238.08 on Tuesday. The business’s 50-day moving average price is $361.89 and its 200-day moving average price is $264.02. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $59.30 and a 12 month high of $525.15. The company has a market cap of $80.94 billion, a P/E ratio of 52.44, a P/E/G ratio of 3.02 and a beta of 2.33.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on APP. Benchmark increased their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Arete Research set a $200.00 target price on AppLovin in a research report on Wednesday, March 5th. Bank of America raised their price target on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group boosted their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $438.28.

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.