Eos Management L.P. Has $12.17 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Eos Management L.P. trimmed its holdings in AppLovin Co. (NASDAQ:APP) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,232 shares of the company’s stock after selling 21,454 shares during the period. AppLovin comprises about 4.3% of Eos Management L.P.’s investment portfolio, making the stock its 5th largest holding. Eos Management L.P.’s holdings in AppLovin were worth $12,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of APP. Atria Investments Inc acquired a new position in AppLovin during the third quarter valued at approximately $574,000. Assetmark Inc. raised its stake in AppLovin by 131.8% in the third quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock valued at $1,258,000 after buying an additional 5,480 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of AppLovin by 128.9% in the third quarter. Verdence Capital Advisors LLC now owns 11,022 shares of the company’s stock valued at $1,439,000 after buying an additional 6,206 shares during the last quarter. Seascape Capital Management bought a new position in shares of AppLovin during the 3rd quarter worth approximately $3,854,000. Finally, CWA Asset Management Group LLC bought a new stake in AppLovin in the 3rd quarter valued at $1,730,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 over the last ninety days. 14.69% of the stock is owned by corporate insiders.

AppLovin Price Performance

APP opened at $290.01 on Friday. The company has a market capitalization of $96.94 billion, a price-to-earnings ratio of 87.88, a PEG ratio of 2.43 and a beta of 1.86. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm has a 50-day moving average price of $139.27 and a 200-day moving average price of $101.29. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $292.86.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.06%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. AppLovin’s revenue was up 38.6% on a year-over-year basis. Equities analysts expect that AppLovin Co. will post 3.47 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on APP shares. Bank of America lifted their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Citigroup lifted their price target on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Loop Capital started coverage on AppLovin in a report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price objective on the stock. Jefferies Financial Group lifted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, BTIG Research raised their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $182.31.

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.