Eos Management L.P. Has $16.42 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Eos Management L.P. reduced its stake in AppLovin Co. (NASDAQ:APP) by 45.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,713 shares of the company’s stock after selling 42,519 shares during the quarter. AppLovin comprises approximately 6.9% of Eos Management L.P.’s holdings, making the stock its 2nd largest position. Eos Management L.P.’s holdings in AppLovin were worth $16,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in AppLovin by 150.6% in the third quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock worth $133,000 after acquiring an additional 613 shares in the last quarter. Capital Performance Advisors LLP bought a new position in AppLovin in the 3rd quarter worth about $25,000. Assetmark Inc. grew its position in AppLovin by 131.8% during the 3rd quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock valued at $1,258,000 after purchasing an additional 5,480 shares during the last quarter. Atria Investments Inc bought a new stake in AppLovin during the 3rd quarter valued at about $574,000. Finally, Legacy Capital Wealth Partners LLC purchased a new position in AppLovin in the third quarter worth about $268,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on APP shares. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Macquarie raised their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Stifel Nicolaus boosted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Stock Down 12.0 %

Shares of APP stock opened at $238.08 on Tuesday. The company’s fifty day simple moving average is $361.89 and its two-hundred day simple moving average is $264.02. AppLovin Co. has a 52 week low of $59.30 and a 52 week high of $525.15. The stock has a market cap of $80.94 billion, a P/E ratio of 52.44, a PEG ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,371 shares of company stock valued at $139,793,507 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

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.