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

Eos Management L.P. trimmed its holdings in shares of AppLovin Co. (NASDAQ:APP) by 18.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,232 shares of the company’s stock after selling 21,454 shares during the period. AppLovin comprises approximately 4.3% of Eos Management L.P.’s portfolio, making the stock its 5th largest position. Eos Management L.P.’s holdings in AppLovin were worth $12,171,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lone Pine Capital LLC grew its holdings in AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares during the last quarter. Jericho Capital Asset Management L.P. increased its holdings in AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares during the period. Fred Alger Management LLC bought a new position in AppLovin during the 2nd quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC bought a new position in AppLovin during the 1st quarter valued at approximately $195,129,000. Finally, 1832 Asset Management L.P. lifted its holdings in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after buying an additional 1,357,400 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

NASDAQ APP opened at $290.01 on Friday. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. 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 stock has a 50-day moving average of $139.27 and a 200 day moving average of $101.29. AppLovin Co. has a one year low of $35.79 and a one year high of $292.86.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.06%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin Co. will post 3.47 EPS for the current year.

Analysts Set New Price Targets

APP has been the subject of a number of recent analyst reports. Citigroup upped their target price on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday. Jefferies Financial Group increased their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company began coverage on AppLovin in a research report on Monday, October 28th. They set an “overweight” rating and a $200.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.31.

Insider Buying and Selling at AppLovin

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

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.